Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Drawdowns Report for Q4 2020 and the BPFI Mortgage Approvals Report for December 2020.
The following are the key figures from the Mortgage Drawdowns Report for Q4 2020. The following are the key elements:
In addition, BPFI also published today the latest figures from the BPFI Mortgage Approvals Report for December 2020:
Speaking on the publication of the data, Brian Hayes, Chief Executive, BPFI said: “Our latest mortgage data is showing strong year-on-year growth in approvals and drawdowns in December and Q4, respectively. In fact during the final quarter of 2020, we recorded the highest value of drawdowns since Q4 2008. This was driven by first-time buyers who reached their highest levels in both volume and value terms since Q3 2007.”
“And while the recovery in mortgage activity in recent months in has not fully offset the sharp decline we saw earlier in 2020 due to COVID-19 restrictions, the continued strong performance of approvals suggests that there is a good pipeline for drawdowns in the first and second quarter of this year. It remains to be seen however the impact the current lockdown we are experiencing will have on prospective homebuyers and the mortgage market as we move beyond that.”
The BPFI Mortgage Drawdowns and Mortgage Approvals reports are available on the BPFI website.