BoI lends €1bn in mortgages
Bank of Ireland provided €1 billion in new mortgage lending to customers last year, accounting for around 40 per cent of total mortgage lending in Ireland in 2012.
Almost 90 per cent of mortgage loans were to customers buying their first property or moving to a new home, the bank said in a statement.
Bank of Ireland also reported that the value of new mortgage lending in the second half of 2012 represented a 65 per cent increase when compared with the first six months.
On a year on year basis, new mortgage lending in the third quarter of 2012 was up 7 per cent, the first quarter since the final three months of 2006 to deliver positive growth.
The average mortgage value for first time buyers was €153,000 with the large majority of homes bought in Dublin and commuter counties.
Director of consumer banking Jonathan Byrne believes the figures indicate a steady improvement in the Irish mortgage lending business.
'We are delighted to have lent over €1 billion in mortgage funds to customers during 2012. We are seeing early and positive signs of improving consumer confidence and an increasing desire to purchase a home amongst our customers,” he said.