Haven’s loans will be funded through intra-company loans from the EBS. It will also outsource some back-office functions, such as the handling of post-cheque-issuance queries and statements, to the parent group.
EBS has about a 12pc share of the Irish mortgage market but sees the broker channel as a key way of expanding its reach.
Almost half the €35bn-odd Irish mortgage market is channelled through the some 1,800 brokers around the country.
“Brokers have taken a strong foothold and will probably be responsible for over half the market next year. Still, they are not as established as brokers in the UK, where they share between 60pc and 70pc of the market, and the US, where they have upwards of 60pc,” said Mr Moroney.
EBS presses ahead with its mortgage broker plan
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