Mortgage Drawdowns Q2 20172nd August 2017
- 8,000 mortgages to a value of €1.65 billion drawn down in Q2 2017
- Loan volumes in Q2 2017 up 17.6% year-on-year and 15.3% quarter-on-quarter
- Values over the same period up 28.1% year-on-year and 18.2% quarter-on-quarter
Banking & Payments Federation Ireland’s (BPFI) Mortgage Drawdowns report, published today, shows that 8,000 new mortgages to the value of €1.65 billion were drawn down by borrowers during the second quarter of 2017.
These latest figures represent increases of 17.6% in volume and 28.1% in value compared to the corresponding second quarter of 2016. They also represent increases of 15.3% in volume and 18.2% in value on the previous quarter (Q1 2017).
First-time buyers (FTBs) remain the single largest segment by volume (49.8%) and by value (48.4%). Together, FTBs and mover-purchasers accounted for 85.3% of the total value of mortgages drawn down.
The volume and the value of re-mortgage/switching loans continue to increase – albeit from low levels: there were 675 re-mortgage/swtiching loans in Q2 2017 to the value of €154 million. This reflects year-on-year growth of 37% in volume and 43% in value.
The BPFI Mortgage Drawdowns report can be viewed on the web here.
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