Mortgage Drawdowns Q2 201825th July 2018
- 9,339 mortgages to a value of €2,014 million drawn down in Q2 2018
- Loan volumes in Q2 2018 up 16.8% year-on-year and 18.5% quarter-on-quarter
- Values over the same period up 22.2% year-on-year 18.2% quarter-on-quarter
Banking & Payments Federation Ireland’s (BPFI) Mortgage Drawdowns report published today shows that 9,339 new mortgages to the value of €2,014 million were drawn down by borrowers during the second quarter of 2018.
These latest figures represent an increase of 16.8% in volume and 22.2% in value on the corresponding second quarter of 2017. They also represent an increase of 18.5% in volume and 18.2% in value compared with the previous quarter (Q1 2018).
First-time buyers (FTBs) remain the single largest segment by volume (48.69%) and by value (48.8%). Together, FTBs and mover-purchasers accounted for 75.4% of the total value of mortgages drawn down.
The volume and the value of re-mortgage loans (switching) continue to increase: there were 1,304 re-mortgage loans in Q2 2018 to the value of €298 million. This reflects year-on-year growth of 95.5% in volume and 93.5% in value.
This report includes data on the status of mortgaged property for the first time. Mortgage activity on new property grew significantly faster than activity on secondhand: the number of mortgages on new properties rose by 29.5% year-on-year to 2,296, while the number on secondhand properties rose by only 1.9% to 5,085.
The BPFI Mortgage Drawdowns report can be viewed on the web here.
Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 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, firstname.lastname@example.org 087 9016880