Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Drawdowns Report for Q4 2019 and BPFI Mortgage Approvals Report for December 2019.
The following are the key figures from the Mortgage Drawdowns Report for Q4 2019:
- 12,259 new mortgages to the value of €2,768 million were drawn down by borrowers during the fourth quarter of 2019.
- This represents an increase of 1.2% in volume and 5% in value on the corresponding fourth quarter of 2018.
- It also represents an increase of 3.9% in volume and 4.9% in value compared with the previous quarter (Q3 2019).
- First-time buyers (FTBs) remained the single largest segment by volume (52%) and by value (53%).
In addition, BPFI also published today the latest figures from the BPFI Mortgage Approvals Report for December 2019. The following are the key elements:
- A total of 2,964 mortgages were approved in December 2019 – some 1,531 were for FTBs (51.7% of total volume) while mover purchasers accounted for 763 (25.7%).
- The number of mortgages approved rose by 1.9% year-on-year but fell by 29.1% compared with the previous month. This reflects the seasonal trends generally seen at this time of year (in the past four years, approval volumes have dropped by 28-30% between November and December).
- Mortgages approved in December 2019 were valued at €696 million – of which FTBs accounted for €362 million (52%) and €204 million by mover purchasers (29.4%).
- The value of mortgage approvals rose by 6.1% year-on-year but fell by 27.5% month-on-month – again due to seasonal factors.
The BPFI Mortgage Drawdowns and Mortgage Approvals reports can be viewed on the BPFI website here.
Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
Contact: Jillian Heffernan, Head of Communications, email@example.com 087 9016880