British banks ‘hamstrung’ in Ireland

A TWO-TIER pricing structure has emerged in the mortgage market in Ireland with Irish lenders offering more attractive rates to customers than British banks.

This is according to Davy Stockbrokers which said that because many of the British banks such as Halifax and Ulster Bank are outside the Irish government guarantee scheme they are under less political pressure to be seen looking keen when it comes to approving mortgages.

AIB confirmed yesterday that it had its best May for mortgage approvals for first-time buyers since 2005.