Foreign banks could be more forgiving

FOREIGN banks entering the Irish market may be more willing to cut a deal with mortgage holders as they look to reduce their loan books.

They are also unlikely to make many drastic changes to day to day banking as they will want a smooth transition into the Irish market.

CEO of the Irish Brokers Association Ciaran Phelan said the key difference for the existing mortgage holder is that a change in ownership would probably bring about a great willingness from the lender to cut a deal.