EBS to lend €400m this year

The EBS has said it intends to lend at least €400m to mortgage customers this year on the back of new data indicating that housing affordability is improving and returning to mid-1990s levels.

The latest affordability index — from EBS and economic consultancy, DKM — shows that 2012 ended with house affordability in this country at its best level since before the birth of the Celtic Tiger.

According to the index, 11.7% of an average first-time buyer working couple’s net disposable income was required to fund a mortgage last December.