Mortgage drawdowns up 17% in second quarter of the year

July 27, 2018 MyHome.ie by MyHome.ie
Mortgage drawdowns up 17% in second quarter of the year

The number of mortgages drawdowns was up nearly 17 per cent in the second quarter, while the value of these loans rose by more than a fifth, new figures show.

Overall, 9,339 mortgages were drawn down in the April to June period compared to 7,998 a year earlier, according to the Banking and Payments Federation Ireland (BPFI).

The value of the loans jumped by 22.2 per cent from €1.65 billion to €2.01 billion.

There was strong growth in both first-time buyer lending and remortgaging during the quarter.

Mortgage drawdowns for owner occupied purchases increased by 9.2 per cent year-on-year to 7,381 with first-time buyer drawdown volumes increasing by 14.3 per cent to 4,547 as mover purchase volumes rose 2.3 per cent to 2,495.

Advertisement

Buy-to-let volumes were up by 32.9 per cent year-on-year to 339. The value of drawdowns in the second quarter was also higher, rising 14.8 per cent to €1.66 billion with first-time buyer drawdown values jumped by 23 per cent to €983 million.

Supplementary data from BPFI shows there were 4,272 mortgages with a combined value of €962 million approved last month. This marks a 0.7 per cent rise compared to the same month a year earlier in terms of volume and by 3.4 per cent in terms of value.

First-time buyer mortgage volumes decreased by 6.4 per cent year-on-year to 2,093 while mover purchase approval volumes declined by 1 per cent to 1,249.

Buy-to-let mortgage approval volumes fell by 7.6 per cent year-on-year to 170.

Remortgage/switching mortgage approval volumes rose by 64.6 per cent to 517 while the number of top-up approvals fell by 0.8 per cent year-on-year to 243.

Tags:
Uncategorized Banking and Payments Federation Ireland mortgage drawdowns

Related articles

Woman using mortgage calculator

Mortgage calculator

Ready to start house hunting but need to know how much you'll be paying on your mortgage? Our Irish mortgage repayments calculator will get you the answers you're looking for.

Start now →

Powered by doddl logo