New Mortgage Lending in Q3 201414th November 2014
- 6,308 mortgages drawn down to the value of €1,126 million
- Loan volumes up 40.7% year-on-year, 31.3% quarter -on-quarter
- Some 93% of new mortgage credit goes to home purchasers
The BPFI/PwC Mortgage Market Profile, published today,provides an account of mortgage lending activity during the third quarter (Q3) of 2014.
The following are the key elements:
- A total of 6,308 mortgage loans were drawn down in Q3 2014. At 51.7%, First Time Buyers remained the largest segment followed by Mover-Purchasers at 35.5%
- The number of mortgages drawn down in Q3 2014 rose by 40.7% compared to the same quarter in 2013 (year-on-year) and by 31.3% compared to Q2 2014 (quarter-on-quarter).
- The value of mortgages drawn down in Q3 2014 was €1,126 million. First Time Buyers accounted for 48.2% and Mover Purchasers for 44.6% of this total, meaning that 92.8% of mortgage credit was taken out by house purchasers.
- The value of mortgages drawn in Q3 2014 rose by 50.1% compared to the same quarter in 2013 (year-on-year) and by 37.3% compared to Q2 2014 (quarter-on-quarter).
This graph presents the trend in the volume of mortgage approvals and mortgage drawdowns:
The BPFI/PwC Mortgage Market Profile Q3 2014 can be viewed on our website here and the BPFI/PwC Mortgage Market Profile Data Series Q3 2014 can be downloaded 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, BPFI, ph: 01 474 8835 / 087 9016880