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Posts Tagged: irish bank news

  • On February 10, 2010
  • By Karl Deeter
  • In mortgages
  • With No Comments

Bank of Scotland: They should have stuck to the broker channel

I can’t help but think that if Bank of Scotland had stuck to the broker channel that they wouldn’t have been in the mess they are in now, and there wouldn’t be 40 odd branches of Halifax closing (they wouldn’t exist), in my mind it is an example of how a large bank got it terribly wrong and ultimately failed to understand their customers.

Their distribution customers were brokers, and via brokers their end customers were Irish consumers, in the end they have alienated both of the groups they set out to serve.

Halifax, who were the retail side of Bank of Scotland Ireland, came about as a follow on from an expansion in the Irish market that was introduced and lead by mortgage brokers. In 2006 it was decided that a greater presence was warranted and they began creating a street presence via branches.

Entering a competitive and mature market with a high-cost/low-margin retail proposition is bound to have its problems. Bank of Scotland mistook the market signals they got from broker lead expansion as a genuine appetite for …

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  • On August 18, 2008
  • By Karl Deeter
  • In property prices
  • With No Comments

Banks acting like the Central Bank… too little too late

Something that astounds me in the midst of the credit crunch is the changing attitude of lenders. We are seeing reductions in what they are willing to lend on, much greater focus on the industry in which a person works in, and more importantly on the location and type of property that they are willing to lend on.

Reductions in what banks will lend on: Things like property development are all but non-existent, focus on a borrowers industry: this is turning lending into an almost ‘life assurance’ or actuarial based risk assessment, people who work in property will only be offered lower loan to value mortgages (they’ll have to come up with bigger deposits). The location and type of property that you can borrow for is also changing, many banks will only do 80% loans on apartments (and how many first time buyers – on of the main purchasers of apartments- have 20% deposits in their pocket?), and some banks will only lend 50% for an investment property that is not in a city!

Here is an ethos ‘We will …

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