Mortgage Drawdowns Q1 201830th April 2018
- 7,879 mortgages to a value of €1,704 million drawn down in Q1 2018
- Loan volumes in Q1 2018 up 13.5% year-on-year but down 23.9% quarter-on-quarter
- Values over the same period up 22.4% year-on-year but down 23.6% quarter-on-quarter
Banking & Payments Federation Ireland’s (BPFI) Mortgage Drawdowns report published today shows that 7,879 new mortgages to the value of €1,704 million were drawn down by borrowers during the first quarter of 2018.
These latest figures represent an increase of 15.5% in volume and 22.4% in value on the corresponding first quarter of 2017. They also represent a drop of 27.6% in volume and 23.6% in value compared with the previous quarter (Q4 2017) – Q1 is typically the weakest month in any year.
First-time buyers (FTBs) remain the single largest segment by volume (48.2%) and by value (48.3%). Together, FTBs and mover-purchasers accounted for 76.8% of the total value of mortgages drawn down.
The volume and the value of re-mortgage loans (switching) continue to increase: there were 969 re-mortgage loans in Q1 2018 to the value of €221 million. This reflects year-on-year growth of 51.2% in volume and 58.9% in value.
The BPFI Mortgage Drawdowns report can be viewed on the web at http://www.bpfi.ie/publications/bpfi-mortgage-drawdowns/
Note: Banking & Payments Federation Ireland represents 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.
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