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Mortgage Drawdowns Q4 2017

25th January 2018

  • 10,350 mortgages to a value of €2,230 million drawn down in Q4 2017
  • Loan volumes in Q4 2017 up 13.5% year-on-year and 8.9% quarter-on-quarter
  • Values over the same period up 23% year-on-year and 10.7% quarter-on-quarter
  • Total of 34,798 mortgages to a value of €7,286 million drawn down in 2017, representing an increase of 18% and 28.8% in volume and value respectively.

Banking & Payments Federation Ireland’s (BPFI) Mortgage Drawdowns report, published today, shows that 10,350 new mortgages to the value of €2,230 million were drawn down by borrowers during the fourth quarter of 2017.  This brings the total number of mortgages issued in 2017 to 34,798 and a value of €7,286 million.

These latest figures represent an increase of 8.9% in volume and 10.7% in value compared to the previous quarter (Q3 2017).  They also represent an increase of 13.5% in volume and 23% in value on the corresponding fourth quarter of 2016.

First-time buyers (FTBs) remain the single largest segment by volume (50.7%) and by value (49.8%).  Together, FTBs and mover-purchasers accounted for 84.8% of the total value of mortgages drawn down.

The volume and the value of re-mortgage loans (switching) continue to increase: there were 985 re-mortgage loans in Q4 2017 to the value of €232 million. This reflects an increase of 26.8% in volume and 30.1% in value on the previous quarter, and a year-on-year growth of 15.7% in volume and 21.6% in value.

An annualised review of volumes and values of purchase mortgage drawdowns shows an increase year on year of 18.1% and 28.6% respectively, amounting to 29,395 and €6,395 million. Remaining within this category, FTB volumes rose by 23.6% to 12,154, while re-mortgage/switching volumes jumped by 31.4% to 2,085 – 2.6 times the level in 2015.

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

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