The Irish lending market could see a new addition next year as An Post confirmed that it plans to enter the market with cut price interest rates.
In a move which could potentially shake-up the lending market, the company say they have agreed to proposals that will see them and a joint venture partner offer loans with lower interest rates.
It is believed that the company will look to undercut the majority of lenders who currently offer intrest rates of 3.2% on the Irish market.
An Post say their new business venture which will offer low interest rates to new customers and those looking to switch mortgage comes as the company looks to move in a different direction.
Although the move will seek the approval of the Central Bank and the Government, An Post say they hope to be launching its lending service at some point in 2019.
The decision comes less than a month after the company confirmed that it is to close 160 rural post offices nationwide.