Sole borrowers accounted for almost a third of first-time buyer mortgage drawdowns in the year to the end of June 2025.
That’s according to a new report from Banking and Payments Federation Ireland (BPFI), which also shows that the number of first-time buyer mortgages drawn down during the first half of this year increased by 5.5% compared to the same time in 2024.
The value of the mortgages also increased, up by 14.4% year-on-year according to the Mortgage Market Profile Report.
The study, which focuses on the profile of borrowers, shows there were 11,791 first-time buyer mortgage drawdowns between January and June, valued at over €3.7 billion.
The figures represent the highest first half of the year volumes since 2007 and the highest half year value since 2006.
The report shows that most first-time buyer mortgages are drawn down by joint borrowers, with sole borrowers accounting for 31% in the 12 months ending June last.
BPFI said while the sole borrower share has increased slightly in recent years, "it remains well below the levels seen in the mid-2000s."
It noted: "Historical Department of Housing data indicates that sole borrowers accounted for 45-48% of first-time buyer mortgages between 2005 and 2008.”
The number of first-time buyer mortgage borrowers buying or building new properties increased by 14% to 4,531, the highest half year volume since 2008.
"While the number of first-time buyer mortgages on existing properties rose by only 0.8% to 7,260, the value of those mortgages reached the highest level since the data series began in 2005, at over €2.2 billion," BPFI said.
The chief executive of BPFI said the report shows "a strong first half for the mortgage market, with first-time buyer drawdown activity reaching record levels."
Brian Hayes said when looking back over the past two decades, "the mean average home (first-time buyer and mover) mortgage values reached new peaks in H1 2025, reflecting continued upward pressure on property prices.”
He added: "Notably, sole borrowers accounted for almost one in three (31%) first-time buyer mortgages in the 12 months ending June 2025.
"While only one in five (22%) first-time buyer mortgages on new properties were drawn down by sole borrowers, they accounted for more than one third (36.4%) of FTB mortgages on existing properties."
"Similarly, they accounted for about one fifth of first-time buyer mortgages on detached and semi-detached houses but represented almost two-thirds (64.2%) of mortgages on apartments," according to Mr Hayes.
"In Dublin, almost half (47%) of sole borrower first-time buyer mortgages were on apartments, compared with 14% of joint mortgages in the same period."
The report also shows that mover purchaser mortgage activity also grew, with volumes up by 3.5% year on year to 3,947 and values up by 13.3% to almost €1.5 billion.
It shows that the mean average first-time buyer and home mover mortgage values both reached their highest half year levels since the data series began in 2003, at €314,810 and €373,393, respectively.
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