New mortgages down 40%

There was a fall of almost 40% in the number of new mortgages issued in the second quarter of 2010, compared to the same time last year.

The latest Irish Banking Federation/Pricewaterhouse Coopers mortgage market profile shows just under 8,000 home loans were drawn down during April, May and June.

The figure compares to more than 12,600 in the second quarter of 2009, and to more than 35,000 during the same period in 2008.