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Sep 14 2020, 09:05 IST/BST
Banks
Irish banks - Avant Money launches new mortgage market offering
- 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 | 102c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 182c |
| permanent tsb Group | NEUTRAL | 06/03/19 | Outperform | 01/08/18 | 44.9c |
DAVY VIEW
Avant Money has today launched its new mortgage rate offering, adding further competition to the Irish mortgage market. The lender is not cherry-picking any particular niche segment of the market, as had been previously speculated. The rates look attractive, but the lender’s ability to grow share will be initially constrained by its broker distribution. The mainstream banks will be unwilling to cede market share, as evidenced by AIB’s cut to some of its fixed rate offerings this morning.
