Dilosk, the buy-to-let specialist that bought Bank of Ireland’s ICS Mortgages brand in 2014, has agreed to buy the €182 million Irish mortgages book of Leeds Building Society, which announced plans during the summer to exit the market. It marks Dilosk’s fourth loan portfolio acquisition to date and brings its total loans to about €600 million, according to chief executive Fergal McGrath. Pepper Finance Corporation will manage the 789 of mainly performing loans involved in the latest transaction on a day-to-day basis for Dilosk and hold the legal title on the mortgages. Early last year, Dilosk started buy-to-let mortgage lending under the ICS brand. The company aims to enter the owner-occupier lending space in the first half of next year.

Source: The Irish Times October 19, 2018 18:56 UTC