Buy-to-let mortgages 25% of home loans market
According to recent figures released by the Central Bank, almost a quarter of all households in Ireland are linked to buy-to-let mortgages.
Bank balance sheets show that the amount lenders dished out on investment properties was twenty four point six billion Euros.
This is without the seventy four point three billion that went to family homes in Ireland. These figures that were released do not include those that were secured loans, or those that have been sold on to someone
When it comes to tracker loans, sixty three point seven per cent are for buy to let properties, and fifty three per cent of all property loans.
You’re probably wondering what the rest accounts for. Well, the vast majority of it goes to variable rate loans and fixed term loans. Over the last three years, property lending has seen a gradual decrease, but all other types of lending have been falling as well.
For example, personal lending has fallen by three point three per cent during one year.
If you have been following the financial news then you will already know that there has been an increase in the amount of Irish families that have been saving money. However, despite this, there has actually been a fall in the amount of deposits being made on houses.
According to the Central Bank, these figures were released so that there was a clearer view to account for personal lending. They also released some more figures detailing the amount going to Irish private sector businesses.
Article by LoansIreland.ie.