You can use the search function to find a range of UK Finance material, from consultation responses to thought leadership to blogs, or to find content on a range of topics from Capital Markets & Wholesale to Payments & Innovation.
In the third quarter of 2017 in Northern Ireland: Home buyers borrowed £480 million, up 12 per cent on the second quarter of 2017 and 20 per cent compared to the third quarter last year. There were 4,300 loans taken out for house purchase, up 10 per cent quarter-on-quarter and 19 per cent compared to a year ago.
In the third quarter of 2017 in Northern Ireland:
Commenting on the data, Derek Wilson, the chair of UK Finance's Northern Ireland Mortgage Committee said:
Lending for house purchase picked up again in the third quarter and is now at its highest level for a decade. First-time buyers continue to borrow more than movers, with lower house prices helping to boost activity in what remains the most affordable region in the UK. More than half of first-time buyers managed to take out a mortgage for less than the stamp duty threshold of £125,000, either through purchasing outright or through co-ownership.
Affordability in Northern Ireland
First-time buyer affordability in Northern Ireland was unchanged in the third quarter. First-time buyers typically borrowed £99,000 (£139,500 in the UK overall), up from £96,950 in the previous quarter. The average household income was £32,622 (£41,009 in the UK overall), up from £32,245. The typical income multiple in Northern Ireland of 2.94 (the same as in the second quarter) also compared favourably to the UK average of 3.61.
Home movers borrowed an average in the third quarter of £116,413 (£180,995 in the UK overall), down from £119,000 in the second quarter. The average household income of home movers was £45,376 (£55,865 in the UK overall), down from £45,486. This meant that the typical home mover income multiple in the third quarter was 2.65, compared to 2.59 in the preceding quarter and the UK average of 3.39.
Chart 1: Number of loans to home owners, 2007-2017
Table 1: Number of loans for house purchase and remortgaging in the third quarter
2,100
1,500
1,900
2,400
2,600
1,700
8.3%
13.3%
0.0%
23.8%
10.5%
Table 2: Value of loans for house purchase and remortgaging in the third quarter
210
190
200
240
220
260
15.8%
10.0%
<p>For further information please contact:<br /> Press Office<br /> 020 7416 6750<br /><a href="mailto:press@ukfinance.org.uk">press@ukfinance.org.uk</a></p> <ol start="1" type="1"><li>UK Finance is a new trade association which was formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation brings together activities previously carried out by the Asset Based Finance Association, the British Bankers? Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.</li> </ol>
17.04.24
15.04.24
12.04.24
By downloading this document, you understand and agree that any sharing, distribution or republishing of the content, without prior written authorisation from the author or content managers at UK Finance, shall be constituted as a breach of the UK Finance website terms of use.