Bank of Ireland provided 1 in every 2 mortgages

The latest market data published yesterday by the Irish Banking Federation and PricewaterhouseCoopers confirms that Bank of Ireland’s market share of new mortgage lending has increased to over 50% of the overall market.

While the mortgage market remains low relative to recent years, Bank of Ireland’s support and commitment to those who are seeking to buy a new home has firmly established them as the preferred lender to Ireland’s mortgage borrowers.

Since early 2008 Bank of Ireland’s (incorporating Bank of Ireland and ICS Building Society) market share of new mortgage lending has more than trebled from 15.6% to 50.2% and the bank is now providing more than one in every two mortgages to Irish consumers.

Bank of Ireland continues to offer mortgages at competitive rates and genuine access to finance for those who are seeking to buy a home and this has led to an increase in market share across all customer segments and in particular the important first time buyer segment – in the three months to end-September 2011 Bank of Ireland has provided vital financing to almost 6 in every 10 first time buyers allowing them purchase their first home.

Commenting on the data, Jonathan Byrne, Head of Mortgages at Bank of Ireland said: “These figures demonstrate that Bank of Ireland remains fully committed to the Irish mortgage market and to mortgage customers at all stages of the mortgage process – enabling consumers to buy their first home or to move to a new home that is more suitable to their needs.  We are also committed to supporting our customers who are facing difficulty paying their mortgage and continue to urge customers who are in financial difficulty or who are facing financial difficulty to come and talk to us”.

ENDS

Contact:
Mary Brennan
Group Communications
Bank of Ireland
Tel: 076 6234781
Email: Mary_C.Brennan@boi.com