Mortgage News
Bank of Ireland UK gross mortgage lending increases to £3.6bn
The Bank of Ireland UK increased its gross mortgage lending by nine per cent to £3.6bn in the year ending 31 December 2019.
This was up from last year’s figure of £3.3bn for the same period last year.
Overall, the bank’s residential mortgage loan book increased to £16.6bn, up 4.4 per cent on 2018’s £15.9bn.
New mortgage propositions
In addition to this, the bank has announced it will roll out its bespoke mortgage customer proposition across the UK, following its launch in Northern Ireland last year.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
The service is focused on helping customers who do not meet traditional lending criteria. The bank aims to distribute this service to 2,000 brokers by the end of the year.
Bank of Ireland UK also introduced paperless mortgages, allowing customers to complete mortgage applications through its online portal.
This will be available to direct customers and brokers across the Bank of Ireland UK and Post Office for Intermediaries. The bank predicts this will remove around two million pieces of paper each year.
Ian McLaughlin (pictured), CEO of the Bank of Ireland UK, said: “We are delighted to see continued growth in our mortgage book at a time when the mortgage market is highly competitive.
“We have made good progress in delivering our mortgage strategy to pivot more towards niche mortgage segments, whilst optimising our volumes in mainstream mortgages.”