Mortgage Approvals – December 2015

Fall in the level of approvals in December

Increase in the total number of approvals in 2015 over 2014

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

The following are the key elements:

  • A total of 2,375 mortgages were approved per month, on average, in the three months ending December 2015 – some 1,214 (51%) were for first-time buyers (FTBs) while mover purchasers accounted for 687 (29%).
  • The number of mortgages approved fell by 14.6% year-on-year and by 6.7% month-on-month.
  • The value of mortgages approved per month, on average, in the three months ending December was €448 million – of which €217 million (48.3%) was accounted for by FTBs and €161 million (35.9%) by mover purchasers.
  • The value of mortgage approvals fell by 12.3% year-on-year and by 5.1% month-on-month.

A total of 29,925 mortgages, valued at €5.6 billion, were approved during 2015, based on the three-month moving average. This represents a year-on-year increase of 13% in volume and 17.6% in value.

This latest report provides a more in-depth breakdown of the approvals figures by segment. To date approvals in this report have been divided into two categories: purchase mortgages and re-mortgages/top-ups. Going forward, the purchase mortgages will be split into first-time buyer, mover purchase and residential investment letting, while re-mortgages and top-ups will be available separately. The data under this new categorisation will be available from July 2014.

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 2015 as well as the time series data file 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 2015 with the three months ending December 2014. Month-on-month compares the average for the three months ending December 2015 with the three months ending November 2015.

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

Top Scoring Business Students Awarded for Outstanding Achievement

Four students from secondary schools around the country have been awarded with gold medals for their outstanding achievements in last year’s Junior and Leaving Certificate business exams.

The winners received their medals as part of the Business Studies Teachers’ Association of Ireland (BSTAI) Achievement Awards, hosted by Banking & Payments Federation Ireland (BPFI) at their offices in Nassau Street, Dublin. The awards recognise the top scoring students nationally in Accounting, Economics and Business at Leaving Certificate Level and Business Studies at Junior Certificate Level.

The medals were presented by Jonathan Lowey, Chairman, Federation of International Banks in Ireland (FIBI), an affiliate of BPFI, Eddy Collier, CEO, Bord Gais Energy and Ultan Henry, President, BSTAI.

The winning students were as follows:

Leaving Certificate Business
Student: Sarah Coughlan
School: Dominican College, 204 Griffith Ave, Dublin 9
Teacher: Ms Dianne Mohan
Principal: Ms Olive Laffoy

Leaving Certificate Economics
Name: Daniel Gonzales
School: St. Michael’s College, Ailesbury Rd, D4
Teacher: Mr Jonathan Traynor
Principal: Mr Tim Kelleher

Leaving Certificate Accounting
Name: Sara Finnerty
School: St Brigid’s Vocational School, Loughrea, Co Galway
Teacher: Ms Carmel Mannion
Principal: Mr Sean Foley

Junior Certificate Business Studies
Name: Donagh Gribbon
School: St Francis Capuchin College, Rochestown, Cork City
Teacher: Ms Catherine McCarthy
Principal: Mr Diarmuid O’Mathuna

For further information contact:
Jillian Heffernan, Head of Communications, BPFI, 087 9016880

Operational Risk Seminar

Banking & Payments Federation Ireland will hold another of its popular Operational Risk Seminars on Tuesday 9 February from 9.00am – 12.20pm, at the Radisson Blu Royal Hotel, Golden Lane, Dublin 8.

Operational Risk Management continues to be a complex and fast growing discipline within the financial services sector as well as all segments of business. In light of increased regulation and governance, rising customer expectations and technological innovation, ensuring that operational risk is embedded and then both measured and managed accurately has never been more important.

As operational risk continuing to move up the risk agenda, this seminar will draw on the expertise of Irish and UK professionals from within the broader risk arena. Addressing how current and upcoming developments will affect businesses, the seminar will also look at Operational Risk best practice and how firms can prepare to be in the best position possible by integrating risk management practices into processes, systems and culture.

Some of the topics to be considered include the overlap with conduct risk; outsourcing which is of relevance to almost all financial businesses and emerging risks in a changing market.

Operational Risk Seminar Agenda is available here