Avant triples its Irish loan portfolio to become the first non-bank mortgage lender – The Irish Times

Lender Avant Money tripled the size of its Irish loan portfolio in the first nine months of the year, according to The Sunday Times. The Spanish lender has increased its business from 1.4 billion euros to 2.1 billion euros to take a 10% share of the new mortgage market in the Republic. The paper says figures from Avant’s Spanish parent company, Leitrim, show that €1.5bn of its loan book is now in mortgages, a staggering 480% increase in this division and made the company the “nation’s first non-bank mortgage lender”. ”.

Consumer loans also increased, with loans from this division reaching 750 million euros. European central bankers are expected to raise interest rates by 0.75% this week in a bid to rein in inflation.

Aer Lingus

Aer Lingus ground staff are demanding substantial unconditional pay rises in a new round of pay talks with the airline, reports the Sunday Independent. The requests come at a time when Aer Lingus is reportedly struggling to hire and retain ground handling staff at Dublin Airport. “The company’s positive financial outlook and the steep rise in the cost of living for our members merit a substantial wage increase,” union Siptu told Aer Lingus handlers in a memo detailing a meeting with management.

Pfizer factory

The Business Post reports that pharmaceutical giant Pfizer plans to invest more than €1 billion in a state-of-the-art biotech manufacturing plant in Grange Castle, County Dublin. The newspaper says the multinational’s plans are at an advanced stage. Construction could begin in the second quarter of next year and be completed by the end of 2026. The American group already employs more than 4,000 people in the Republic.

Fraser and Asos

In Britain, billionaire Mike Ashley’s Fraser Group capitalized on the fall in Asos shares by buying a 5% stake in the online fashion store, according to the Sunday Telegraph. The Frazer Group informed Asos of its stake constitution on Friday evening, the newspaper said. Asos’ value slumped by more than £5bn in March last year as it navigated the end of the pandemic online shopping boom, to around £500m on Friday.

UK tax

The Telegraph also reported that UK Finance Minister Jeremy Hunt is considering up to £20bn (€23bn) in tax increases in a budget due to be presented on Monday, October 31. The report, which does not cite sources, says Mr Hunt may seek to reform capital gains rules and drop a government-funded two-year scrapping of green levies on energy bills.

About Jermaine Chase

Check Also

Using the cloud for income and employment verification

In a recent Equifax survey, nearly 40% of dealerships said they were still not investing …