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28/05/2014
NI Mortgage Lending Increases
Lending for home-owner house purchase in Northern Ireland in the first quarter of 2014 rose 35% when compared to the same period in 2013, according to the Council of Mortgage Lenders (CML).
The figure was still down 7% compared to the fourth quarter of 2013, however.
The value of new loans to home-owners for house purchase was £240m, down 11% on the fourth quarter of 2013 but up 41% compared to quarter one 2013.
First-time buyers in Northern Ireland took out 1,600 loans, indicating a decrease of 11% compared to the fourth quarter of 2013 but a rise of 33% compared to the first quarter of 2013. These loans totalled £130m in value, 7% lower than the previous quarter but up 44% compared to the first quarter of 2013.
A typical first-time buyer in Northern Ireland borrowed 2.91 times their gross income in the first quarter of 2014, which was lower than the UK average of 3.42.
This was a fall from the last quarter of 2013 when it was 2.85 and up from 2.80 in the first quarter of 2013. The typical loan size for first-time buyers in Northern Ireland was £72,000, which was less than the UK average of £118,750 in the same period.
Home-owner remortgage activity in Northern Ireland in the first quarter of 2014 fell to 1,100 loans, down 15% compared to the previous quarter but an increase of 10% compared to quarter one of 2013.
Brian McCormick, chair of CML in Northern Ireland, commented: "The strong upward year-on-year trend in Northern Ireland is showing growth in all borrower types. In particular, it is good to see affordability for first-time buyers remain at a more favourable level than the UK overall. Northern Ireland has very particular challenges compared to the rest of the UK so seeing increased activity over the past few quarters shows progress that will hopefully continue going forward."
(IT)
The figure was still down 7% compared to the fourth quarter of 2013, however.
The value of new loans to home-owners for house purchase was £240m, down 11% on the fourth quarter of 2013 but up 41% compared to quarter one 2013.
First-time buyers in Northern Ireland took out 1,600 loans, indicating a decrease of 11% compared to the fourth quarter of 2013 but a rise of 33% compared to the first quarter of 2013. These loans totalled £130m in value, 7% lower than the previous quarter but up 44% compared to the first quarter of 2013.
A typical first-time buyer in Northern Ireland borrowed 2.91 times their gross income in the first quarter of 2014, which was lower than the UK average of 3.42.
This was a fall from the last quarter of 2013 when it was 2.85 and up from 2.80 in the first quarter of 2013. The typical loan size for first-time buyers in Northern Ireland was £72,000, which was less than the UK average of £118,750 in the same period.
Home-owner remortgage activity in Northern Ireland in the first quarter of 2014 fell to 1,100 loans, down 15% compared to the previous quarter but an increase of 10% compared to quarter one of 2013.
Brian McCormick, chair of CML in Northern Ireland, commented: "The strong upward year-on-year trend in Northern Ireland is showing growth in all borrower types. In particular, it is good to see affordability for first-time buyers remain at a more favourable level than the UK overall. Northern Ireland has very particular challenges compared to the rest of the UK so seeing increased activity over the past few quarters shows progress that will hopefully continue going forward."
(IT)
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First-Time Buyer Loans Increase By 36%
The number of loans to first-time buyers in Northern Ireland increased by 36% in the second quarter of 2013 compared to the same period last year, data released today by the Council of Mortgage Lenders (CML) show. This uptake resulted in the largest number of loans advanced to first-time buyers in a single quarter since the end of 2009.
First-Time Buyer Loans Increase By 36%
The number of loans to first-time buyers in Northern Ireland increased by 36% in the second quarter of 2013 compared to the same period last year, data released today by the Council of Mortgage Lenders (CML) show. This uptake resulted in the largest number of loans advanced to first-time buyers in a single quarter since the end of 2009.
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NI Sees Increase In House Purchase Loans
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NI Sees Increase In House Purchase Loans
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
