The lender offering these rates, Avant Money, has been operating in Ireland under the name Avantcard for a number of years. (Stock image)The impact of Covid-19 has been to make households wealthier while the State sunk €14bn deeper into debt, according to the Central Bank’s Quarterly Financial Accounts. House prices, a savings glut since the beginning of the pandemic and repayment of mortgages over the past decade has pushed the wealth of the average Irish person to a record €166,000, according to the figures from the Central Bank. In contrast, government debt increased by €14.3bn to stand at €252bn at mid year – a record high. Its based on a big rise in savings and more mortgages being paid off, even though the value of homes did not change.

Source: Irish Independent November 13, 2020 12:00 UTC