Mortgage drawdowns decline amid shortage of second-hand homes for sale

Mortgage drawdown volumes and values were down 27.3 per cent and 28.3 per cent from the final three months of 2023, the BPFI said. Photograph: iStock

Their comments come as new figures from Banking and Payments Federation Ireland point to a slowdown in home borrowing. This represents a 19.8 per cent decline in volume and a 17.7 per cent decline in value compared with the same period last year, the BPFI said.An attempt to buy the next election with a giveaway budget would be a gross miscalculationDrawdown volumes and values were also down 27.3 per cent and 28.3 per cent from the final three months of 2023.

Brian Hayes, chief executive of the BPFI, said the drop-off in drawdowns was largely down to the continued decline of mortgage switching activity, which has dropped off since 2022 when borrowers piled into fixed interest rate loans in advance of rising central bank interest rates.

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