Banking

Number of first-time buyer mortgage drawdowns highest since Celtic Tiger – BPFI

Although, the figures show an overall decline in mortgage activity

The figures show that first-time buyers make up the bulk of mortgage drawdowns. Picture: Getty

New Banking Payments Federation of Ireland (BPFI) data released today show that the number of mortgage drawdowns for first-time buyers in 2023 reached the highest level since 2007.

However, overall mortgage activity was down slightly, as the number of people re-mortgaging dropped on the previous year by around 80 per cent.

In the last quarter of 2023, 11,584 new mortgages were taken out, to the total value of almost €3.3 billion, a decrease of 27.1 ...