Mortgage Drawdowns Q3 20179th November 2017
- 9,506 mortgages to a value of €2,016 million drawn down in Q3 2017
- Loan volumes in Q3 2017 up 16.9% year-on-year and 18.9% quarter-on-quarter
- Values over the same period up 29.4% year-on-year and 22.3% quarter-on-quarter
Banking & Payments Federation Ireland’s (BPFI) Mortgage Drawdowns report, published today, shows that 9,506 new mortgages to the value of €2,016 million were drawn down by borrowers during the third quarter of 2017.
These latest figures represent increases of 16.9% in volume and 29.4% in value compared to the corresponding third quarter of 2016. They also represent increases of 18.9% in volume and 22.3% in value on the previous quarter (Q2 2017).
First-time buyers (FTBs) remain the single largest segment by volume (51.4%) and by value (50.1%) Together, FTBs and mover-purchasers accounted for 86.4% 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 777 re-mortgage/switching loans in Q3 2017 to the value of €178 million. This reflects year-on-year growth of 15.3% in volume and 25.5% 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: Keira Doyle, Head of Communications, 086 2694460