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Mortgage switching, Santiago’s €100m in loans, and interest rate hikes

Business Today: the best news, analysis and comment from The Irish Times business desk

James Thompson, Financial Analyst at Whiterock Finance; Andrew Trimble, Chief Executive Officer at Kairos Sports Tech and Gareth Quinn, Chief Operating Officer at Kairos Sports Tech.

James Thompson, financial analyst at Whiterock Finance; Andrew Trimble, chief executive at Kairos Sports Tech, and Gareth Quinn, chief operating officer at Kairos, pictured at Kingspan Stadium in Belfast, the home of Ulster Rugby. Kairos has raised £500,000 from Whiterock to expand its sports tech business.

Ciarán Hancock's face
Ciarán Hancock
Tue Jun 28 2022 - 06:38

Mortgage switching volumes and values more than doubled in year-on-year terms, reaching their highest level in at least a decade, according to data from the Banking & Payments Federation Ireland (BPFI). Colin Gleeson reports.

Non-bank lender Santiago Capital has hit €100 million worth of loans after four years in business, according to its chief executive Graham Cawley. Most of this has been lending to property projects, writes Barry O’Halloran.

Kairos Sports Tech, a software company co-founded by former Ireland rugby player Andrew Trimble, has raised £500,000 from Whiterock Finance as it seeks to expand in reach among elite sports teams around the world. Ciara O’Brien has the details.

The State is planning to sell another 5 per cent stake in AIB in a move that would reduce its holding to 63.5 per cent. Eoin Burke-Kennedy reports.

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Recent figures on house asking prices from property websites MyHome.ie, which is owned by The Irish Times, and Daft.ie have given conflicting signals on trends in the market. Cantillon offers a view on which way the market is going.

With the European Central Bank set to begin hiking its interest rates in July, what should borrowers and savers expect from their financial institutions? Fiona Reddan provides the answers in our weekly personal finance feature.

In Q&A, a recently married reader, who already owns a house, wonders if she should used her savings to pay down some of the mortgage on her existing property or use it for a deposit on a new house she is planning to buy with her husband. Dominic Coyle offers some guidance.

In Media & Marketing, Bernice Harrison looks at the business model of the Dublin Inquirer, an online and print media group that has turned its back on advertising income in favour of subscription revenue to make ends meet.

In Me & My Money, Justin Lawless, chief executive of Intact Software, reveals how his $100 marriage licence, bought at City Hall in New York, was the “best value of all”.

The S&P 500 is on course for its worst first half to a year since 1970. After such brutal selling, is this a good time to buy stocks? Stocktake offers a view.

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