Mortgage Approvals – November 2015

 

The following are the key elements:

  • A total of 2,531 mortgages were approved per month, on average, in the three months ending November 2015, of which 2,181 (86%) were for house purchase.
  • The number of mortgages approved fell by 8% year-on-year and increased by 0.4% month-on-month.
  • The value of mortgages approved per month, on average, in the three months ending November 2015 was €469 million, of which €417 million (89%) was for house purchase.
  • The value of mortgage approvals fell by 6.6% year-on-year and increased by 2.2% month-on-month.

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 November 2015 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 November 2015 with the three months ending November 2014. Month-on-month compares the average for the three months ending November 2015 with the three months ending October 2015.

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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, 087 9016880

SME Market Monitor shows underlying improvement in economic environment for SMEs

The DKM/BPFI SME Market Monitor, December 2015, prepared by DKM Economic Consultants (DKM) and published today by Banking & Payments Federation Ireland (BPFI), highlights an underlying improvement in the economic environment for SMEs with many indicators rising and with others stabilising.

Tracking trends across 15 different indicators which are important for the performance of the SME sector, this latest DKM/BPFI SME Market Monitor points in particular to the significance of strengthening domestic demand and ongoing recovery in consumer spending, with DKM’s Annette Hughes stating that:

“One of the most important indicators for SME firms, Domestic Demand, continued an upward trend in the first six months of the year, with the quarterly value surpassing €42 billion (constant 2013 prices) in Q3’15 for the first time since early 2008. Investment was the star performer in Q3’15 for the second quarter in a row. Although overall retail sales were marginally lower in the month of October, the ongoing recovery in consumer spending and in the level of housing transactions is having a positive impact on sales in selected sectors”

With indicators showing an increase, by homeowners, in their expenditure on home renovations, the report outlines the success of the government’s Home Renovation Scheme and the positive impact which private household spending will have into next year:

“A further interesting measure of the extent of expenditure on home renovation and refurbishment works is available from the Home Renovation Incentive (HRI) scheme for owner occupiers and investors. This scheme attracted nearly €625 million worth of construction work by 6,341 contractors on 40,477 projects covering 28,911 properties since it was introduced in 2014. Combined with the bounce back in residential construction activity, a further increase in housing transactions and disposable incomes should support private household spending on home renovations next year. This will further sustain SME businesses both directly and indirectly supplying goods and services in this sector.”

The DKM/BPFI SME Market Monitor can be viewed on the BPFI website here and www.dkm.ie

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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: Annette Hughes, Director DKM Economic Consultants, Ph: 01 6670372
Jillian Heffernan, Head of Communications, BPFI, Ph: 01 4748835 / 087 9016880

Vishing (Telephone) Scam

Purpose of Advisory

There are increasing reports of consumers being cold called by fraudsters claiming to be from a major computer company and or financial institutions.  A number of individuals have been duped and have disclosed their information and have suffered financial loss.

A pdf version of the BPFI – Vishing (Telephone) Scam is available to download here.

Key Details

The consumer is contacted, and the caller purports to be:

  1. From a computer company and advises they can help in the resolution of PC issues
  2. From their financial services provider and advises there has been a fraud on their account.

In both instances, during the call the customer is requested to provide their date of birth and their bank card details to the perpetrator. Following disclosure of this information customer accounts are subject to fraud as a result of this scam.

Red Flags

  • Consumers are contacted via an unsolicited phone call or cold called
  • Caller claiming to be from major computer company or their financial institution
  • The consumer is requested to provide personal information (e.g. date of birth)
  • The consumer is requested to provide their bank card (i.e. debit or credit), PIN (Personal Identification Number), CVV/CSC number & 3D secure password details
  • Older consumers appear to be particularly targeted.

 Action

  • Customers are reminded to treat all unsolicited phone calls with scepticism.
  • Never allow a ‘cold caller’ take control of your computer or laptop. Strangers who ring advising that you are having a problem with your computer are trying to defraud you.
  • Financial institutions are committed to protecting consumers from fraud. While they may contact their customers to discuss the operation of their account and/or their satisfaction with their banking arrangements, they will never make contact asking for personal banking details.
  • Emails or phone calls that consumers may receive requesting such information are an attempt to defraud.
  • Consumers must never disclose their personal banking login or other details in response to any unsolicited request.
  • Consumers are reminded to keep their personal banking login and card details safe and that personal banking login and card details must never be shared.

This is a general notice issued by the Financial Crime and Security Department of BPFI on behalf of BPFI members.

Disclaimer Note: The information contained in this Fraud Alert /Advisory is for general guidance and for information purposes only and is intended to enhance awareness and vigilance regarding this fraud.

BPFI Housing Market Monitor Q3 2015

Banking & Payments Federation Ireland (BPFI) today published the BPFI Housing Market Monitor for Q3 2015. The monitor draws on a range of published data under the three key headings of housing supply, housing prices and housing transactions for its assessment of the current state of the housing market.

In his commentary accompanying the report, BPFI’s Economist and Head of Accounting & Tax, Ali Uğur, points to the continuing issue of housing supply, with new home completions falling far short of the levels required particularly in the capital:

“Between July and September 2015 nearly 3,300 new homes were completed bringing the total to 8914 in the year to September 2015, an increase of 14.4% compared to the same period in 2014. However, completions in Dublin fell by around 30% year on year, with just 685 homes built in Q3 2015. It is likely that significantly fewer homes will be built in the capital than the 3,300 built in 2014. This will add to the supply pressure in the Dublin area”.

In addition he highlights the impact which the ‘mismatch’ between current demand and supply is having on private sector rents:

“According to the Central Statistics Office, private residential rents rose by an annual 10.3% in the third quarter and the increase in the three months to September was 3.2%. The latest Daft.ie rental report shows that there are just 4,000 homes on the rental market, the lowest number since figures began in 2006. With the current commencement levels, which are a good indicator of completions in 2016, it is likely that there will be further pressure on rents in the short term.”

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The BPFI Housing Market Monitor is published quarterly and can be viewed on the BPFI website here.

Note: Banking & Payments Federation Ireland (BPFI) 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

Mortgage Approvals – October 2015

Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for the three months ending October 2015.

The following are the key elements:

  • A total of 2,531 mortgages were approved per month, on average, in the three months ending October 2015, of which 2,195 (87%) were for house purchase.
  • The number of mortgages approved fell by 2% year-on-year and fell by
    5.7% month-on-month.
  • The value of mortgages approved per month, on average, in the three months ending October 2015 was €459 million, of which €414 million (90%) was for house purchase.
  • The value of mortgage approvals fell by 1.3% year-on-year and fell by 6.7% month-on-month.

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 October 2015 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 October 2015 with the three months ending October 2014. Month-on-month compares the average for the three months ending October 2015 with the three months ending September 2015.

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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, 087 9016880