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MORE THAN 12,000 new mortgages, valued at €2.7 billion, were drawn down by borrowers during the fourth quarter of 2019, according to a new report.
Just over half of these (52%) related to first-time buyers, according to figures released by Banking & Payments Federation Ireland (BPFI) today.
There were more than 49,000 mortgage approvals in Ireland overall in 2019, valued at €11 billion, the report states.
There were 12,259 mortgage drawdowns in the last three months of 2019, valued at €2.768 billion.
This represents an increase of 1.2% in volume and 5% in value on the last three months of 2018. It also represents an increase of 3.9% in volume and 4.9% in value compared with the previous quarter in 2019.
A mortgage drawdown occurs when a customer draws down some or all of an approved mortgage to buy or build a residential property.
There were 9,941 purchase mortgage drawdowns, valued at €2.3 billion in the final quarter of 2019.
Purchase mortgage drawdown activity rose in volume by 3.4% year-on-year and increased in value by 7.6% over the same period, according to the report.
First-time buyer (FTB) mortgage drawdown volume increased by 11% year-on-year to 6,386, while mover-purchase drawdown volume decreased by 8% year-on-year to 3,187.
Residential investment letting (RIL) mortgage drawdown volume decreased by 7.8% year-on-year to 368.
Re-mortgage/switching mortgage drawdown volume fell by 12.5% year-on-year to 1,473, while the number of top-up drawdowns rose by 3.7% year-on-year to 845.
FTB mortgage drawdown values increased by 15.8% year-on-year to €1.4 billion, while the value of mover-purchase drawdowns decreased by 3.4% year-on-year to €813 million.
RIL mortgage drawdown values decreased by 8.9% year-on-year to €55 million, the report notes.
The value of re-mortgage/switching mortgage drawdown fell by 10.3% year-on-year to €357 million, while the value of top-up drawdowns rose by 11.0% year-on-year to €79 million.
This was actually the work of a secret government experiment underground. There are 8 letter in bulls**te, minus 1 is 7. 6 letters in “Madrid” plus 1 is 7, 7+7 is 14, same number alonso used to wear at Liverpool. Therefore the UK is the next target for fart bombs…
The cult of Frank!!
Went to the alhambra in granada years ago. The architects hundreds of years ago factored these quakes into their building designs and placed lead inside the stone columns. This enabled them to sway slightly. Clever lads in fairness. Well worth a visit.
The earthquake that struck Lorca was not 10km deep, it was only 1 km deep. This was extremely unusual. It explains why this modest earthquake caused so much damage. Today’s earthquake is more typical, at a depth of 8 miles. It should not be as bad.
Some scientists claimed the Lorca earthquake was provoked by water wells that removed ground water, that the removal of water reduced pressure that otherwise clamped the fault shut, allowing it to move.
http://www.independent.ie/breaking-news/world-news/spanish-quake-was-manmade-study-3266682.html
We had a large 7.1 quake in the Northern Mid-Atlantic Ridge Off the west coast Of Ireland on 13th
That’s big for the Northern Mid-Atlantic Ridge, very interesting. It was on Charlie-Gibbs fracture zone. Here’s a nice article about the earthquake.
Ay caramba!
Paul Murphy is on his way, he blamed the quake on the local police!
I knew it wasn’t the journal reporting this when I spotted they didn’t mix moment magnitude and the Richter scale.
And the mixture of metric and imperial.
It’s maddening. Nobody has used the Richter scale in decades.
The moment magnitude scale (abbreviated as MMS; denoted as MW or M) is used by seismologists to measure the size of earthquakes in terms of the energy released. The magnitude is based on the seismic moment of the earthquake, which is equal to the rigidity of the Earth multiplied by the average amount of slip on the fault and the size of the area that slipped.The scale was developed in the 1970s to succeed the 1930s-era Richter magnitude scale (ML). Even though the formulae are different, the new scale retains the familiar continuum of magnitude values defined by the older one. The MMS is now the scale used to estimate magnitudes for all modern large earthquakes by the United States Geological Survey.
There’s absolutely no threat from Fionna Foil so long as Mehole is in charge
Do you know any kind of earthquake early warning app? I found one here http://remotegun.com/earthquake-early-warning-system but it is under development right now. do you know another one?
All hail the glorious frank…
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