SBP: major impairments in Irish buy-to-let mortgage market

[Blue_Horseshoe]

Reported by the Sunday Business Post 27th Dec 2009

Buy-to-let lending is seen as riskier for banks than owner occupied lending. Mortgage brokers suggested that Irish Life & Permanent, which avoided the risky development lending in which other banks engaged, was among the more vulnerable to a deterioration in the buy-to-let market, given that it had a large exposure to buy-to-let lending.

Blue Horseshoe