AIB Approving 7 out of 10 Mortgage Applications

AIB has announced they are currently approving 7 in 10 new mortgage loan applications.

This year AIB agreed to commit to providing new mortgage lending of at least one billion Euros.

In their statement they said they are already ahead of this target.

The announcement is a good sign that banks in Ireland may be ready to lend money to potential new mortgage applicants.

AIB’s share of mortgage loans in the third quarter of 2012 was estimated to be around 43%, much higher than 25% in the same quarter in 2011.

Stats from the IBF/PwC Mortgage Market Profile published today show the number of new mortgages approved in Ireland in the third quarter of 2012 have increased by 23.5% on the previous quarter.

This represents an 10.4% increase on the same quarter in 2011.

According to the report there were a total of 3,983 mortgages issued in the third quarter of 2012, representing total loans of €663 million.

Article by Loans Ireland.