KBC reactivate the switching market

There has been an absence of competition in the switching market for some time. AIB don’t even do them while others try to avoid switcher loans. PTsb have been in that space for some time but were largely unchallenged except by (to a lesser extent) Ulsterbank.

Which is why it’s nice to see KBC come out with a product for people who want to switch to them. Naturally the best prices are at low loan to values, these types of loans have obvious advantages to banks in terms of the condition of their loan book, but it’s good to see this as moderating credit conditions have to start somewhere.

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Mortgage Application Requirements: What do I need and Why?

The average mortgage taken out in Ireland is approximately €260,000. Before mortgage providers lend-out such large amounts of money they need to be as sure as possible that the funds will be repaid in full and on time over an agreed period. While a home loan is secured on the property as collateral, this should not reduce the lenders’ lending prudence because repossessing a home in the case of non-repayment of a loan is an absolute last resort which takes a lot of time, costs a whole lot of money and risks generating such grossly negative publicity that it is barely worth it and is entirely unattractive. So, to ensure this possible outcome is seldom reached; lenders vet their potential clients carefully using the following key documents on which to base their underwriting decision…

Photo ID Irish Law demands that a financial institution must establish the identity of a client before entering into any financial transaction. Of course, its logical that …

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