Increase in number of new mortgages being drawn down

Increase in number of new mortgages being drawn down

There has been an increase in the number of new mortgages being drawn down.

The figures were up 8.9% during the first quarter of the year compared to the same time last year.

A new Banking and Payments Federation report also shows that over 8,500 new mortgages were drawn down.

Director of Public Affairs Felix O'Regan said people are getting mortgages despite obstacles:

The price of available properties can be a challenge for people.

"Obviously, people also have to obtain their mortgage within the central banks, macro-prudential rules, there's a limit to what people can borrow in terms relative to their income etc.

"But notwithstanding those challenges, these figures show that the mortgage market continues to grow."

The report also shows there were 4,142 mortgage approvals valued at €920 million in March 2019.

There were 3,276 purchase mortgage approvals, valued at €757 million in March 2019.

More on this topic

Taoiseach calls for tweak to mortgage lending rules 'so people can get out of rent trap'Taoiseach calls for tweak to mortgage lending rules 'so people can get out of rent trap'

May figures reveal more than €1.1bn worth of mortgages approved by banks in a monthMay figures reveal more than €1.1bn worth of mortgages approved by banks in a month

Irish mortgage-holders paying €2,000 extra a year compared to EU homeownersIrish mortgage-holders paying €2,000 extra a year compared to EU homeowners

Why mortgage rates are lower in UKWhy mortgage rates are lower in UK

More in this Section

Michael Gove confident goods delays at ports can be avoided after BrexitMichael Gove confident goods delays at ports can be avoided after Brexit

Heathrow branded ‘massive gravy train’ as Aer Lingus boss slams expansion costsHeathrow branded ‘massive gravy train’ as Aer Lingus boss slams expansion costs

22% of Irish people unable to afford a holiday this year22% of Irish people unable to afford a holiday this year

Hostelworld issues profit warning after disappointing summer bookingsHostelworld issues profit warning after disappointing summer bookings


Lifestyle

Triathlete Carolyn Hayes is flat out. Since October 2018, she’s literally been racing around the world.On the treble: Triathlete Carolyn Hayes goes flat out to win a place in the Olympics

Children starting or going back to school is a reminder of how we all need an energy boost when sitting at a desk for hours, no matter what our age.Energy fix: Top 8 snacks for children

A sommelier shares her top tips.The dos and don’ts of serving wine – you just might have been doing it all wrong

It’s that time of year again; the long summer days are numbered, summer’s lease is all too short as she takes her last few breaths.Learning Points: Top tips on coping with back to school stress for you and the kids

More From The Irish Examiner