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(From Irish Independent)
REPORTS that a new pan-European capital market for mortgages may shortly deliverlong-term no-penalty fixed mortgages to Irish borrowers were described yesterday as "alittle premature" by Irish Life & Permanent.
Ireland's leading mortgage provider is one of a number of top European home-loanlenders that have lent support to the proposed new Europe-wide institution that is seekingsponsorship from the European Commission.
"We have given our support in principle," the IL&P spokesman said, but this idea is still "aconcept with vague possibilities".
Risk capital for the proposed new European Mortgage Finance Agency …