ICS Mortgages enters market for owner-occupiers with the Lowest variable rate in the market
ICS Mortgages, the leading Buy-to-Let mortgage lender, is entering the owner-occupier market. The lender is launching a range of highly competitive variable and fixed rate mortgages from as low as 2.55%. The mortgages will be available from this week through mortgage intermediaries and their direct customer channel. Dilosk DAC, trading as Dilosk and ICS Mortgages has over €600m of mortgages under management.
The new mortgages will feature the lowest variable rate in the market (2.70%) for properties with a Loan to Value of less than 50%. The company will also be offering 3 and 5 year fixed rates starting at 2.55% and 2.60%, respectively. Various rates will apply depending on the size of the loan relative to the value of the property – all at highly competitive price points (see notes to editor below).
The strategy is to offer customers low rates, low APRs* and on-going customer flexibility to suit individuals changing needs. Maturing fixed rate customers will be eligible to avail of the relevant new customer variable rate at the expiry of their fixed terms. Customers may also be able to avail of lower rates as their LTV improves over the course of the loan.
The launch sees the ICS Mortgages brand (which was established in 1864) re-entering new lending in the owner-occupier market for the first time since 2013. ICS Mortgages’ Buy-to-let mortgages have been available since 2016 and the company has already gained an estimated 30% market share with their innovative product offerings.
Speaking today, Fergal McGrath CEO and Co-founder of Dilosk (Parent company of ICS Mortgages) stated: “This is a really strong proposition for the owner-occupier mortgage market. We have listened to customers and our offering is focused on market leading rates, real long-term value with low APRs, exceptional customer service and flexible repayment options. We are market leaders in the BTL market and we believe we now have a compelling proposition for First-Time buyers and Switchers also.”
ICS Mortgages’ owner occupier products will be available through their nationwide network of mortgage intermediaries and through their direct customer channel. Throughout the month of September, there will be a select number of mortgage intermediaries providing these mortgages and the aim is for full market rollout in October 2019.