DILOSK NEWS 2018-04-11T15:18:40+00:00

NEWS

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ICS MORTGAGES TO BOOST RENTAL MARKET WITH UNIQUE BUY-TO-LET MORTGAGE

Supported by a €200m Facility

ICS Mortgages today stated that their new Buy-to-Let mortgage with a unique 10-year interest only option is now available nationwide. The first new mortgage product from Irish specialist mortgage lender Dilosk, who acquired ICS Mortgages from Bank of Ireland in 2014, is available to both individuals and companies. Dilosk has secured an initial facility of €200m for the new product, which comes with a range of competitive variable rates starting at 4.49% based on LTV. During a trial test period with a number of mortgage brokers, significant interest and take up of the product has been recorded.

According to Fergal McGrath, Chief Executive Dilosk, this new Buy-to-Let product is anticipated to provide strong competition in the market.

“It will appeal to both established property investors with existing properties, those looking to refinance and expand their portfolios, as well as those wishing to buy their first Buy-to-let property. There is significant demand in the market for a new competitive Buy-to-Let Mortgage Proposition to cater for the increasing demand for good quality rental accommodation in Ireland,” he says.

“Access to new finance is a key enabler that can assist in creating a more stable property environment. A lack of access to mortgage finance for Buy-to-Let investors has been one element of our complex housing situation in Ireland. According to the latest daft.ie data, the number of properties available to rent nationally fell below 4,000 last year from a peak of 27,000 back in 2009. A new stream of finance can play a positive part for the long-term provision of affordable and quality accommodation solutions to meet the various needs of a range of tenants”.

“We are hugely encouraged by the response to date in terms of volume of applications, the reaction to our bespoke application system as well as to our streamlined processing system. ICS Mortgages has had a very strong relationship with professional mortgage brokers for many years and we look forward to continuing and strengthening this partnership into the future with our new offering for both new and existing property investors,” Mr McGrath concludes.

Key features of the ICS Mortgages Buy-to Let Product:
– 10-year interest only option
– 20-year capital and repayment option
– Rates from 4.49%
– Loans for Individuals and Companies.
– Loans up to 70% LTV
– Min loan size €40,000- max loan size €1.25m
– Terms from 5 to 20 years
– Min property value €80,000 with no max property value

Further information is available on www.icsmortgages.ie This product will also be available Direct on 1 890 989 234.
ICS Mortgages is one of Ireland’s oldest and renowned mortgage brands with a heritage that dates back to 1864.


ICS Mortgages to launch new buy-to-let product in the new year

7th October 2016

ICS Mortgages today stated that it is bringing a unique Buy-to-Let mortgage product to the Irish market. Currently in final development, a pre-launch lending phase in November will see the product available through a small number of mortgage brokers initially. Designed to cater for the growing demand in the Irish Buy-to-Let mortgage sector, the product will be available through ICS Mortgages accredited brokers nationwide in early 2017.

This is the first new mortgage product from ICS Mortgages since Irish financial services company, Dilosk Designated Activity Company took over the ICS mortgage book in mid-2014. It is anticipated to provide b competition in the market. Aimed at new and current property investors, the product has a number of key attractive benefits that include a ten- year interest only option.

According to Fergal McGrath, Chief Executive, Dilosk, “there is significant demand in the market for a new competitive Buy-to-Let mortgage proposition to cater for the increasing demand for good quality rental accommodation in Ireland. This product will appeal greatly to both established property investors with existing properties, those looking to expand their portfolios, as well as those wishing to purchase their first Buy-to-Let property. ICS Mortgages will also provide facilities to refinance current rental portfolios”.

“We are delighted to be in the final stages of bringing this product to market. We will consider applications from both individuals and companies wishing to purchase residential investment properties in Ireland. The product is also available to people living abroad who wish to buy a residential investment property in Ireland. We will be offering a streamlined specialist service tailored specifically to the property investors’ needs. ICS Mortgages has had a b relationship with the professional mortgage brokers in the market for many years and we look forward to strengthening this partnership with what we view as an excellent product for both new and existing property investors,” Mr McGrath says.

ICS Mortgages is one of Ireland’s oldest and renowned mortgage brands with a heritage that dates back to 1864.

Dilosk DAC trading as Dilosk and ICS Mortgages is regulated by the Central Bank of Ireland

For information:
Siobhan Molloy Tel: (01) 6798600
Weber Shandwick PR 086 817 50 66


Dilosk receive an award from Finance Dublin under the Debt Capital Markets Deals of the Year category.

 April 2016

Dilosk are delighted to be the recipient of an award from Finance Dublin Deals of the Year Award 2016. The particular category for the award was Debt Capital Markets RMBS Deal of The Year and was recently awarded to Dilosk RMBS No 1 Limited, Dilosk’s inaugural public bond issuance which raised €206 million in the European capital markets. The bonds are listed on the Irish stock exchange and Deutsche Bank acted as sole arranger and lead manager. A&L Goodbody and Clifford Chance were the main legal advisors on the transaction.


Dilosk Moves to new Head Office on Hume Street

 4th January 2016

Dilosk moved to a new Head Office premises at 16 Hume Street Dublin 2.

Our Head Office is located in the heart of the city centre, just off St. Stephen’s Green, Dublin 2. It is a short stroll from both Grafton Street and the timeless landmark of the Shelbourne Hotel.

Our Head Office telephone number has not changed: +353 (0)1 5180030.

Existing ICS Mortgage customers who wish to contact us should continue to use the following contact details:

Phone: 1890 542 542

Email: customerservice@icsmortgages.ie

Address: ICS Mortgages, PO Box 1077, Maynooth, Co. Kildare.


ICS DISTRIBUTION PLATFORM TRANSFERS TO DILOSK

Dublin, Ireland – 1st September 2014

Dilosk Limited are pleased to announce that the transfer of a c.€223 million pool of mortgage accounts from Bank of Ireland to Dilosk has taken place, today, 1st September 2014.

Along with the c.€223 million mortgage pool, Dilosk also acquired the ICS brand and distribution platform.  Dilosk will issue confirmation letters to all affected customers regarding the transfer of their mortgage accounts. The letters, which will be issued today, will include new contact details should any customers have queries.

Dilosk CEO Fergal McGrath said:-

“My colleagues and I would like to welcome our new customers to Dilosk. We look forward to providing them with high quality service to meet their needs now and into the future.”

 Mr McGrath further commented: “I want to thank everyone from all teams for all the effort and attention to detail that went into ensuring such a smooth and efficient transfer process.  I would also like to welcome our new colleagues to Dilosk and we wish them every success.”

Dilosk Limited is an Irish financial services company headquartered in Merrion Square, Dublin. Dilosk recently received authorisation from the Central Bank of Ireland to operate as a retail credit firm. Dilosk customers will be afforded all protections under the various regulatory codes applicable to mortgage lending in Ireland. Dilosk Limited, trading as Dilosk, is regulated by the Central Bank of Ireland.


Dilosk Receives Authorisation from the Central Bank of Ireland

Dublin, Ireland – 14th August 2014

Dilosk are pleased to announce that it has received confirmation from the Central Bank of Ireland authorising Dilosk Limited as a Retail Credit Firm. Dilosk Limited, trading as Dilosk, is now regulated by the Central Bank of Ireland.

“This news from the Central Bank of Ireland allows us to achieve another milestone in our business and will facilitate new mortgage lending in the near future.  As a regulated entity, all future customers of Dilosk will be afforded all protections under the various regulatory codes applicable to mortgage lending in Ireland.”  said Dilosk’s CEO Fergal McGrath.


Dilosk Enters Into An Agreement To Acquire ICS Mortgage Distribution Platform And Mortgage Pool From Bank Of Ireland For €250 Million

Dublin, Ireland – 26th June 2014

Dilosk, an Irish financial services company, announced today that it has entered into an agreement to acquire the ICS brand, mortgage Distribution Platform and a pool of performing mortgages for EUR 250 million from the Bank of Ireland.

“Traditionally ICS has been one of the leading players in the Irish intermediary mortgage market and this acquisition gives Dilosk a solid platform to build on a recognised and long established name,” said Dilosk’s CEO and co-founder Fergal McGrath. “ICS has been helping people buy homes for the last 150 years in Ireland and today’s announcement helps to cement our presence as a new and alternative residential mortgage lender in the Irish market.”

The ICS mortgage Distribution Platform, which was previously part of the ICS Building Society provides mortgages through independent brokers in Ireland.

“We plan to grow our business by offering new residential mortgage loans and we aim to ensure that the ICS mortgage brand under Dilosk ownership will remain a leading and trusted mortgage brand in the mortgage market.” added Mr McGrath.

This sale is part of Bank of Ireland’s EU restructuring plan and was mandated by the European Commission to ensure increased competition within the Irish mortgage market.

Dilosk, headquartered in Merrion Square, Dublin, has applied for authorisation from the Central Bank of Ireland to act as a Retail Credit Firm. Dilosk intends to comply with all the relevant regulatory codes applicable to mortgage lending in Ireland including the Code on Conduct on Mortgage Arrears.

The acquisition is expected to be completed in early September 2014 and is subject to further regulatory and EU approvals which are standard for a transaction of this nature.