EBS bidder: ‘We’ll cut mortgages’

HOMEOWNERS could see thousands slashed off their mortgages if a bid for EBS from a US billionaire is successful.

American investor Wilbur Ross has joined a consortium that includes Dublin-based Cardinal Asset Management and the Washington buyout firm Carlyle Group to bid for building society EBS.

Mr Ross said that a successful bid by the consortium could result in existing EBS mortgage customers ultimately having to pay less than they currently owe on their home loans.