Credit unions taking a growing share of the mortgage-switching market

Thousands of homeowners rushed to avail of lower fixed terms to try and avoid the impact of the ECB rate hikes.

Data shows 10% of homeowners switching their mortgage moved to a credit union last year.

Credit Unions are taking a larger share of the mortgage market with 10% of those switching their mortgage moving to credit union lenders last year.

A report by the Central Bank of Ireland shows that in just a few recent months the sector has moved from being close to absent within the market to now holding a small but growing share.