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Increase in mortgages drawn down in the last year

The number of mortgages drawn down has gone up nearly 9% in the last 12 months. The Banking and P...
Jack Quann
Jack Quann

07.54 24 Jul 2019


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Increase in mortgages drawn do...

Increase in mortgages drawn down in the last year

Jack Quann
Jack Quann

07.54 24 Jul 2019


Share this article


The number of mortgages drawn down has gone up nearly 9% in the last 12 months.

The Banking and Payments Federation of Ireland (BPFI) says there were 10,157 new mortgages drawn down in the second quarter of 2019.

These were worth €2.25bn.

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The BPFI says this represents an increase of 8.8% in volume and 11.7% in value compared to a year ago.

First-time buyers remain the single largest segment by volume - representing just under 50% of all mortgages.

Switching activity - or re-mortgage loans - also saw a year-on-year increase of 11%.

In terms of mortgage approvals, a total of 4,478 mortgages were approved in June 2019 - with 2,235 of these being first-time buyers.

Mover purchasers accounted for 1,233 of mortgage approvals.

Overall, the number of mortgages approved was up by 4.8% year-on-year - but fell by 9.1% compared to the previous month.

Mortgages approved in June were valued at just over €1bn - of which first-time buyers accounted for 53.3%, valued at €550m, and mover purchasers were worth €332m.

Goodbody says this means the market is on track to hit a forecast of €9.9bn in new lending this year, despite a slower than expected new homes market.


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BPFI Banking And Payments Federation Of Ireland First-time Buyers Goodbody Mortgages Mortgages Drawn Down Mover Purchasers Re-mortgage Loans

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