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Sep 3 2019, 08:10 IST/BST
Banks
ICS Mortgages to enter owner-occupied market with attractive mortgage rates
- Sectors : Banks
- Companies : permanent tsb Group | AIB Group | Bank of Ireland
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| AIB Group | OUTPERFORM | 23/01/19 | Neutral | 14/08/18 | 229c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 349c |
| permanent tsb Group | NEUTRAL | 06/03/19 | Outperform | 01/08/18 | 104c |
DAVY VIEW
The entry of ICS Mortgages into the owner-occupied mortgage market was expected, but its pricing is somewhat more competitive than anticipated and we would therefore expect this to generate some incremental pressure on new mortgage pricing across the market from current levels. Our forecasts continue to include reductions in new mortgage levels, partly offset by ongoing run-off from the tracker mortgage portfolios.
