Finance Ireland agrees to buy Pepper Money and enter Irish mortgage market

Finance Ireland has said that it is accelerating its plans to buy mortgage origination business Pepper Money in Ireland for an undisclosed amount.

The company has focused on motor finance and SME loans up to now, but will enter the residential mortgage market here and hopes to broaden out its mortgage product range in the New Year.

The deal includes around €200m worth of mortgage loan portfolio, consisting of around 900 performing mortgage loans originated by Pepper Money over the past two years.

They said the existing terms and conditions of those loans will be unaffected.

Finance Ireland, which was established by Billy Kane in 2002, employs around 115 people and reported lending of more than €430m for 2017.