Spanish-owned lender’s mortgage book grew by 92% year-on-year in the second quarter
Avant Money, based in Carrick-on-Shannon, Co Leitrim, took about a 10 per cent share of new mortgage activity in Ireland last year to become the leading non-bank lender in the market at a time of heightened mortgage switching activity as borrowers piled into fixed-rate products amid rising central bank rates. The lender is focused on fixed-rate loans, spanning from three to 30 years.
Switching activity has declined across the Irish market so far this year, according to Banking & Payment Federation Ireland data. Meanwhile, Avant Money’s consumer finance book grew by 23 per cent on the year in the second quarter, to €758 million, bringing its total Irish portfolio to €2.46 billion. Mr Diaz Garcia said he expected both Irish loan books to continue to grow.
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