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Mortgage Drawdowns Q1 2018

30th 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.

 Contact: Jillian Heffernan, Head of Communications, jillian.heffernan@bpfi.ie 087 9016880

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