Bol cuts back on mortgage business in the UK

February 2009
Lending Strategy;Feb2009, p11
Trade Publication
The article reports on the decision of the Bank of Ireland (BoI) to cut back on its mortgage business in Great Britain in an effort to control cost. One of the plans of BoI for its British mortgage business is to end the sale of residential mortgages through brokers. The bank will also close its mortgage processing centres in Reading and Solihull in England. Richie Boucher of BoI says the growth of the bank's lending business in Ireland is dependent on the reduction of its loans to deposits ration overseas. INSET: European securitisation transactions are getting bigger.


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