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Thread: EBS and Permanent TSB to re-enter the mortgage market - any significance?

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    Politics.ie Member DaveM's Avatar
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    Default EBS and Permanent TSB to re-enter the mortgage market - any significance?

    Two more lenders set to resume providing mortgages - National News - Independent.ie

    EBS and Permanent TSB are to start offering new mortgages again from the new year.

    What is the significance (if any) behind this? Is it based on a belief that the fall in the market is almost at an end or is it a case that they just need to be seen to be in the market but prospective customers will have no more success than SMEs in accessing credit?
    Tantum religio potuit suadere malorum.

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    Politics.ie Member cabledude's Avatar
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    Why? Had they stopped lending.

    But, seriously, was it a policy decision to stop mortgage lending? I knew of anecdotal evedince, but for them to come out and state that they are recommencing mortgage lending suggests that they had officially ceased.
    Stand there in silence, look up to the sky and remember how brave they were.

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    Politics.ie Member Analyzer's Avatar
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    I suppose it will be some time yet, before Permo are loaning 8 billion euro to another Irish bank, for a short term, to "mature" after four to five days ?
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Politics.ie Member DaveM's Avatar
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    Quote Originally Posted by cabledude View Post
    Why? Had they stopped lending.

    But, seriously, was it a policy decision to stop mortgage lending? I knew of anecdotal evedince, but for them to come out and state that they are recommencing mortgage lending suggests that they had officially ceased.
    As far as I know they simly withdrew from the market while their balance sheets were being repaired. I'm just curious as to whether their return is due to an expectation of more favourable market conditions or whether as banks that have been supported by taxpayers' money they need to be seen to be offering mortgages while in reality they'll set their conditions so tight that they lend to next to nobody in the short term.
    Tantum religio potuit suadere malorum.

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    Politics.ie Member cabledude's Avatar
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    Quote Originally Posted by DaveM View Post
    As far as I know they simly withdrew from the market while their balance sheets were being repaired. I'm just curious as to whether their return is due to an expectation of more favourable market conditions or whether as banks that have been supported by taxpayers' money they need to be seen to be offering mortgages while in reality they'll set their conditions so tight that they lend to next to nobody in the short term.
    I suppose only time will tell.......
    Stand there in silence, look up to the sky and remember how brave they were.

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    Politics.ie Member gerhard dengler's Avatar
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    I didn't know that they had ceased mortgage lending.

    Permanent TSB have closed a lot of their branch network in recent times.
    Politics.ie moderators should moderate instead.
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