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New Mortgage Lending in Q4 2016

2nd February 2017

  • 9,115 mortgages to a value of €1.81 billion drawn down in Q4 2016
  • Loan volumes in Q4 2016 up 14% year-on-year, 12.1% quarter-on-quarter
  • Values over same period up 26.1% year-on-year, 16.1% quarter-on-quarter
  • 29,498 mortgages to a value of €5.66 billion drawn down in 2016

Banking & Payments Federation Ireland’s (BPFI) Mortgage Drawdowns report, published today, shows that 9,115 new mortgages to the value of €1.81 billion were drawn down by borrowers  during the fourth quarter of 2016.

This brings to 29,498 the total number of mortgages issued in 2016 to the value of €5.66 billion.

These latest figures represent an increase of 12.1% in volume and 16.4% in value compared to the previous quarter (Q3 2016).  They also represent an increase of 14.0% in volume and 26.1% in value on the corresponding fourth quarter of 2015.

First-time buyers (FTBs) remain the single largest segment by volume (46.5%) and by value (44.6%).  Together, FTBs and mover-purchasers accounted for 84% of the total value of mortgages drawn down.

The volume and the value of re-mortgage loans (switching) continue to increase – albeit from low levels: there were 851 re-mortgage loans in Q4 2016 to the value of €191 million. This reflects an increase of 26.3% in volume and 34.3% in value on the previous quarter and year-on-year growth of 75.4% in volume and 62.3% in value.

The BPFI Mortgage Drawdowns report can be viewed here.

Note: Banking & Payments Federation Ireland is the voice of banking and payments in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: Jillian Heffernan, Head of Communications, 087 9016880

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