Bank of Ireland announces €264m in mortgage applications to new mortgage fund and 50.1% market share Bank of Ireland welcomes the latest mortgage data released by the IBF, in conjunction with PwC. Since Q1 2008 the bank’s (incorporating Bank of Ireland and ICS Building Society) market share of new mortgage lending by value has more than trebled and the newly published Q4 2011 market data confirms that in each of the past three quarters Bank of Ireland provided more than one in every two mortgages to Irish consumers, achieving a 50.1% share of all new mortgages issued in Q4 2011.
Commenting on the figures, Jonathan Byrne, Head of Mortgages ROI in Bank of Ireland, said: Bank of Ireland remains fully committed to the Irish mortgage market and to mortgage customers at all stages of the mortgage lifecycle – enabling consumers to buy their first home or to move to a new home that is more suitable to their needs. While, at a market level mortgage lending activity remains low relative to recent years, Bank of Ireland’s market share performance is further demonstration of our support and commitment to the Irish mortgage market.
In December 2011, to support customers purchasing their first home or moving home throughout 2012, Bank of Ireland launched a Mortgage Fund of €1.5bn, supporting the measures announced by the Government in the last budget for first time buyers in the market. To date in the first weeks of 2012, we have received applications to the value of €264m from potential first time buyers and movers,” he concluded.