Council of Mortgage Lender Regulated Mortgage Survey Q2, 2015
Commenting on the figures Stephen Bloomfield, Danske Bank’s Deputy Managing Director of Personal Banking, said:
“After a quiet first quarter it is no surprise that the overall figures for the number and value of loans for house purchases in Northern Ireland was up in the second quarter of 2015. Consumer confidence is improving as the local economy continues to grow.
“The level of mortgage activity remains healthy, and both the number of mortgage sales and the value of those sales are higher in the second quarter of 2015 than in the same three months in 2013.
“We expected house buying activity to pick up in the second quarter and that has proved to be the case as first time buyers and existing homeowners, perhaps conscious of the Bank of England’s comments on upcoming interest rate rises, take advantage of the low interest rate environment.
“The housing market has started to recover and it is encouraging to see more activity. While house prices have increased 6 per cent year on year, they still represent good value for money and are still affordable enough for first time buyers to get a foot on the property ladder.
“Danske Bank in Northern Ireland approved over £131 million in mortgage lending in the first half of this year and we are keen to lend even more in the second half. The mortgage market is very competitive, with new product offerings and highly competitive rates being announced every week - this of course is good news for consumers.”
