‘Pent-up demand’ for credit union mortgages

A report by a leading academic has called for lending restrictions on credit unions to be eased in order to provide consumers with more mortgage options — for which there is “pent-up demand”, according to one of the sector’s biggest bodies.

Dublin City University credit union researcher Ciarán Mac an Bhaird’s Towards 2030 — Lending Opportunities for Credit Unions report says there are “considerable benefits” for consumers if credit unions enter the mortgage market.

His study findings claim that the current “highly concentrated” mortgage lending market has the potential for a higher interest rate being charged to consumers, and that current regulations should be eased to enable credit unions to participate in mortgage lending in a meaningful way.