Irish lender Dilosk intends to enter the owner-occupier mortgage market in the first half of next year, adding to its current offering in the buy-to-let sector. The company, which bought the ICS Mortgages brand from Bank of Ireland in 2014, told The Irish Times the move into owner-occupier mortgages would be a “natural evolution for Dilosk”. “ICS was traditionally a specialist mortgage lender focusing on the owner-occupied market and buy-to-let market and it was doing that since 1864, so it’s a natural evolution to go back to that model,” said Fergal McGrath, chief executive and co-founder of Dilosk. Dilosk offers interest-only options on its buy-to-let product range but Mr McGrath said that “wouldn’t be suitable” for owner-occupiers. He said the Central Bank’s loan-to-value rules – set at 90 per cent for first-time buyers and 80 per cent for other buyers – had created a level playing field.

Source: The Irish Times October 03, 2018 04:07 UTC