Cereal link to home loan player

FEW could have predicted that the latest entrant to the mortgage market could have grown up from the success of cereal crops in Wexford.

But if Bank of Ireland’s sale of €250m worth of loans originally given out by the ICS Building Society is finalised that is exactly what will happen.

Last week it was announced that the buyer of the ICS assets will be Dilosk Ltd. The deal was ordered by the European Commission when it demanded Bank of Ireland do something to improve competition in the mortgage market.