Mortgage lending to Northern Ireland property purchasers fell in Q1

By Lauren Burns

There was a fall in the number of new mortgages lent to property purchasers in Northern Ireland in the first 3 months of this year.

According to new figures from the Council of Mortgage Lenders (CML) 2,400 house buyers in Northern Ireland received a mortgage in the first quarter of 2015, down 33 per cent on the previous quarter, and 11 per cent on the same quarter in 2014. First time buyers continue to be slightly more active than home movers, accounting for 58 per cent of the new mortgages.

Mortgage borrowing does tend to drop in the first quarter of each year, and despite the 11 per cent decline in lending to property purchasers compared to last year, it is still the second highest total in a first quarter since 2007.

If you are buying, selling or remortgaging a house in Northern Ireland, and require a property conveyancing solicitor to handle the legal process for you, contact Wilson Nesbitt in Belfast or Bangor by calling 0800 840 9290.

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