Residential mortgage lending in ‘worrying’ slump to €331m in Q1

Mortgage lending slumped to €331m for the first quarter of this year, well down on the €450m lent in the same period in 2012.

The Irish Banking Federation/PwC Mortgage figures show that 2,068 new mortgages were issued in the first three months of the year.

This compared with 6,043 issued in the final quarter of 2012, valued at €999m and 2,630 mortgages with a value of €450m in the first three months of last year.