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Increase in demand for mortgage credit

Written by Robert McHugh, on 19th Jul 2017. Posted in Ireland

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The latest euro area Bank Lending Survey for the second quarter of 2017 was published yesterday. The quarterly survey completed by five Irish banks examines market credit conditions for SMEs, while also examining credit conditions and demand for consumer credit and loans for house purchase.
 
The survey points to no change in credit standards for enterprises, with a slight easing in the credit standards for consumer credit and other lending. Loan demand for house purchase rose in the second quarter, with the survey noting that changes to macroprudential regulations and the help-to-buy scheme have supported an overall increase in demand for mortgage credit.
 
Commenting on the report, Goodbody Stockbrokers noted, "The increase in demand for credit for house purchase is consistent with broader mortgage approvals and drawdown data and supports our view that 2017 will mark an end to mortgage credit deleveraging. We forecast gross new mortgage lending of €7.4bn in 2017 (+30% yoy), with net mortgage lending growth of 0.9% this year."

Source: www.businessworld.ie

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