AIB's exposure to residential property developers is around €15bn, Anglo's €7bn and Bank of Ireland's €9bn. For AIB and BOI, those loans are dwarfed by their mortgage business, but even
within the normally safe mortgage market, there is a new layer of loans that is untested in a recession. A proportion of those mortgage loans are for the "buy-to-let" market --
mortgages raised by investors who buy properties and then rent them
out, hoping that the rental income offsets the mortgage costs.
Read On...
within the normally safe mortgage market, there is a new layer of loans that is untested in a recession. A proportion of those mortgage loans are for the "buy-to-let" market --
mortgages raised by investors who buy properties and then rent them
out, hoping that the rental income offsets the mortgage costs.
Read On...
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