"More than 27,000 new-buyer mortgages were drawn down in the year to end of September. This is the highest annualised number since 2007, according to the Banking and Payments Federation of Ireland (BPFI). First-time buyers continue to be the most active segment in the market, ­accounting for six out of 10 mortgage drawdowns in that period, during which close to 46,000 mortgages were drawn down."
"The figures show that 12,570 new mortgages, with a total value of €3.9bn, were drawn down by borrowers during the third quarter of this year - an increase of almost 8pc in the number of drawdowns in the same period last year. The value of drawdowns is up almost 17pc, reflecting rising property prices. These are the second-highest values since the BPFI started collecting data in 2003. Remortgage and switching volumes increased by 35pc in the year."
"Meanwhile, interest rates have been reduced on mortgages offered by AIB, EBS and Haven. Brokers said the decreases were overdue, as the rates the group charges on mortgages for those who do not have energy-efficiency homes is far higher than it charges those with good energy ratings. AIB's five-year fixed rate for non-green mortgages is being reduced by 0.65 percentage points. All other AIB non-green fixed rates are also coming down. The reductions are effective from this week."
More than 27,000 new-buyer mortgages were drawn down in the year to end of September, the highest annualised number since 2007. First-time buyers accounted for six out of ten mortgage drawdowns, with close to 46,000 mortgages drawn down in the period. New properties, including self-builds, made up over a third of first-time buyer and mover-purchase mortgages in the three months to September. In the third quarter 12,570 mortgages worth €3.9bn were drawn down, up almost 8% in number and almost 17% in value year-on-year. Remortgage and switching volumes rose 35%. AIB, EBS and Haven reduced non-green and some green fixed rates.
Read at Irish Independent
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