New Mortgage Lending in Q4 2014

  • 7,583 mortgages to a value of €1.3 billion drawn down in Q4 2014
  • Total of 22,119 mortgages to a value of €3.9 billion drawn down in 2014
  • Loan volumes in Q4 2014 up 45.7% year-on-year, 20.2% quarter-on-quarter

The BPFI/PwC Mortgage Market Profile, published today, provides an account of mortgage lending activity during the fourth quarter (Q4) of 2014 and the year as a whole.

The following are the key elements:

  • A total of 7,583 mortgage loans were drawn down in Q4 2014 to the value of €1.3 billion.
  • During 2014 a total of 22,119 mortgages were drawn down to a value of €3.9 billion.
  • The number of mortgages drawn down in Q4 2014 rose by 45.7% compared to the same quarter in 2013 (year-on-year) and by 20.2% compared to Q3 2014 (quarter-on-quarter).
  • In 2014 First Time Buyers remained the largest segment of the market in value terms accounting for 49% with Mover Purchasers accounting for 43%, meaning that 92% of mortgage credit was taken out by house purchasers.

This graph presents the trend in the volume of mortgage approvals and mortgage drawdowns:

BPFI-PwC Mortgage Market Profile Q4 2014 -Graph

The BPFI/PwC Mortgage Market Profile can be viewed on the web here.

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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, BPFI, ph: 01 474 8835 / 087 9016880

Mortgage Approvals – December 2014

Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for the three months ending December 2014.

The following are the key elements:

  • A total of 2,780 mortgages were approved per month, on average, in the three months ending December 2014, of which 2,564 (92%) were for house purchase.
  • The number of mortgages approved rose by 57.8% year-on-year and 1% month-on-month.
  • The value of mortgages approved per month, on average, in the three months ending December 2014 was €511 million, of which €483 million (95%) was for house purchase.
  • The value of mortgage approvals increased by 61.2% year-on-year and by 1.8% month-on-month.

A total of 26,576 mortgages, valued at €4.7 billion, were approved during 2014, based on the three-month moving average. This represents an increase of 43.6% compared to 2013.

Data collection for the BPFI Mortgage Approvals Report began in September 2012 covering the period from January 2011 onwards in respect of the market’s main mortgage lenders. The BPFI Mortgage Approvals Report December 2014 is available on the BPFI website here.

All figures are based on the three-month moving average. Year-on-year compares the average for the three months ending December 2014 with the three months ending December 2013. Month-on-month compares the average for the three months ending December 2014 with the three months ending November 2014.

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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, BPFI, ph: 01 474 8835 / 087 9016880