Northern Ireland experienced a marked increase in mortgage deal numbers during the final quarter of 2011, new research has shown.
According to the Council of Mortgage Lenders (CML), the country was the only region in the UK to see such growth.
It was demonstrated that this level – 2,500 home loans with a value of £240 million – witnessed a four per cent increase by number and value when compared with the third quarter of the year.
However, home purchase loan amounts across the UK saw a dip of five per cent by volume and seven per cent by value from the previous three-month period, but escalated by one per cent and three per cent respectively when judged against that registered in 2010’s quarter four.
Derek Wilson, chair of CML Northern Ireland, noted the findings should provide a confidence boost for the country’s home loan market.
The industry figure – who has been in the post since last year – stated: “Lack of job security and underlying economic uncertainty have led to a lack of demand for mortgages, particularly among movers.”
