The States competition watchdog has launched a probe into the mortgage market and questioned the low-level of competition in property lending.
And it has raised concerns over the fact that variable rates here are among the highest in the Eurozone.
The home-loan lending market in this country is highly concentrated, the Competition and Consumer Protection Commission said in a new report.
Just three banks have an 80pc share of mortgage lending, the commission states, quoting Central Bank research.
Although they are not named, this is understood to be a reference to AIB, Bank of Ireland and Ulster Bank.
High levels of concentration may lead to tacit co-ordination which operates as an imped…
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