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An Post to enter mortgage market

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    #32
    boombang
    Registered Users Posts: 2,108 ✭✭✭boombang


    Eric Cartman wrote: »
    actually quite true, and then muggins over here will be forced to pick up the tab for their free houses in the form of bailing out an post.

    This would be exactly my fear. I don't see these guys offering any upside of enhanced competition and I see it offering all the downside of a costly, lame service that places an additional burden on through taxpayer. We don't need this and I'd much rather it didn't go ahead.


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    #33
    Henryhill2
    Closed Accounts Posts: 171 ✭✭Henryhill2


    An post is only the front


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    #34
    the_syco
    Registered Users Posts: 37,299 ✭✭✭✭the_syco


    Byrne said An Post would hope to have a mortgage partner selected by late spring. "We will cast the net abroad. Irish banks are welcome to submit proposals as well, but we have also looked at international banks that have licences here," she said. "You would be able to get up and running quite quickly.
    I doubt any foreign bank will touch Irish mortgages, as if the person doesn't pay they get to stay in their house for a few years before they may get evicted.
    Colonel Claptrap wrote: »
    If you thought state owned banks weren't going to enforce repossessions, wait till you see what a toothless semi-state can do!

    Absolutely zilch.

    Another win for the "can't pay, won't pay" shower.
    Unfortunately, yup.


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    #35
    banjostring
    Registered Users Posts: 41 ✭banjostring


    Is there any update out there regarding An Post entering the Market ?


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    #36
    tedpan
    Registered Users Posts: 4,627 ✭✭✭tedpan


    Spring 2020 apparently


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    #37
    banjostring
    Registered Users Posts: 41 ✭banjostring


    Thanks !
    Read that alright, but it’s been kept pretty quiet since the News broke, so was kind of wondering if it would materialise at all !
    Cheers


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    #38
    opm
    Registered Users Posts: 30 ✭opm


    taken from the IT, Mon 11th May 2020:

    "An Post’s plans to enter the mortgage market in the first half of this year have been hit by the economic fallout from Covid-19, which has seen loan approvals slump and lenders preparing for a surge in bad debts.

    While the State-owned postal service operator, which first said in 2018 that it was aiming for a slice of the recovering home loans industry, remains committed to entering the market with a partner, sources said that the timeline has been pushed out.

    A spokesman for the company declined to comment on the delay."


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    #39
    Mrs OBumble
    Registered Users Posts: 25,940 ✭✭✭✭Mrs OBumble


    Tails142 wrote: »
    Won't be lending till 2020, just in time for the next crash like their last effort PostPay with Fortis.

    What a remarkable prescience you had!


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