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AIB commands 40pc market share of residential property deals

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Leadership

AIB commands 40pc market share of residential property deals

11.11.2009
AIB today announced that it provided finance for 40pc of all residential property transactions in the third quarter of 2009.

The bank said this level of new business activity offered “strong evidence” of its commitment to the overall economy and support for the housing market in particular.

AIB also pointed out that it had been responsible for one in three of all new first-time buyer mortgage drawdowns in the market in the third quarter.

According to the bank, when compared with the same period last year, this means that AIB’s overall market share of first-time buyer mortgages has more than doubled. 

Steady flow of good-quality applications
“While the demand for mortgage finance is still well below the levels seen in 2007 and 2008, AIB is continuing to see a steady flow of good-quality mortgage applications from both first-time buyers and those moving home,” said Marian McCarville, Head of Credit Products at AIB.

“We have also seen a shift in the type of property that first-time buyers are looking to buy in 2009, with sanction requests for second-hand homes now the most popular category at 57pc,” she said.

“We are committed to continuing our strong support of the mortgage market and in particular for first-time buyers,” McCarville added.

 

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