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Dublin: 11 °C Thursday 20 June, 2013

Bank of Ireland received €264million in applications for mortgage fund

The lender said it was showing “support and commitment to the Irish mortgage market”.

Image: Eamonn Farrell/Photocall Ireland

BANK OF IRELAND has received mortgage applications worth €264million for a fund set up at the beginning of this year, according to bank management.

The lender announced in December that it would make €1.5billion in funding available for mortgages in 2012, with the possibility of expanding the fund if demand was high.

A spokesperson said at the time that the fund would be a “further support” to Budget measures aimed at helping first-time buyers.

“To date in the first weeks of 2012, we have received applications to the value of €264m from potential first time buyers and movers,” Bank of Ireland mortgages head Jonathan Byrne said today.

He insisted that even though overall lending is low, the bank is showing “support and commitment to the Irish mortgage market”.

Bank of Ireland now accounts for just over 50 per cent of all new mortgage lending by value, the institution said in a statement.

More: BoI plays down report on mortgage rate hikes>

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Comments (13 Comments)

  • Received in applications…
    But what was granted?
    Not a great press release if you ask me.

    Reply
    • Elrat 22/02/12 #

      Usually they whittle it down to 100 then to 10 and give out 8: thus by their reckoning they approve of 80% !!!!

      Reply
    • €264 million?

      That’s about 40 or 50 ”sneaky” mortgages for Bank Of Ireland’s family members and their crony chums to buy up prime repossessed properties in Dublin 4,
      probably from Bank Of Ireland’s ”squeaky clean” receiver buddies.

      Is this where all the bail out money (that you took from the taxpayer) is going?

      Back to the good old days BOI?

      Crony Banking.

      Starve your existing mortgage customers and push them over the edge by increasing your interest rates?

      While at the same time you are dishing out the loan offers on soft terms to your golfing buddies down at the 19th hole?

      Reply
  • Shneak 22/02/12 #

    Maybe if they gave a figure of approvals rather than applications they might be able to claim “Support and commitment to the Irish market”. As it stands the statement holds absolutely no value. They may as well have said 1 trillion euro.

    Reply
  • So the only irish bank lending money is the one NOT owned by the government….

    Reply
  • jimbo 22/02/12 #

    Yeah,how many mortgages will they actually pass?the banks brought us down yet we bail them out and they wont help us out..

    Reply
  • mcgoo 22/02/12 #

    And they have sanctioned just under zero of them…..

    Reply
  • Paddy power should run a bet in how many new mortgages the banks have funded- I woul bet less than 100 standard mortgages. These guys are not in the mortgage business right now yet will push people through the hoops only to refuse thematic the last minute. In some way it would be immoral to lend money for a mortgage right now as the taxpayer is sponsoring the banks. Mind you the banks keep giving away money to sporting events for sponsorship -,this gives the guys at the top a nice corporate box to watch the games from while being served a nice wine and some finger food. God help them they need to relax some of the time with all the stress and strain on them at reduced salary to only 600k or 700k.

    Reply
  • Should the government not be doing more to encourage people to rent rather than this obsession a lot of Irish people seem to have with owning their own home.

    Reply
    • There is nothing wrong with retaining our home ownership culture. France has the highest rate of second home ownership in the world and it is not considered a problem. what is wrong with home ownership in principle? It leads to better maintained property in general, as owner occupiers are more likely to carry out repairs on their own houses than tenants.

      There is also a shortage of rental properties on the market, especially anything a family can live in. Most are aimed at students or young couples. It would take a generation to change that rental stock.

      What would be the point in encouraging people to rent something that does not even exist?

      Reply
  • Ardo Ci 23/02/12 #

    It’s good news folks! They’re admitting at last they have (our) money to lend. Let’s all go ask for a loan and report back how many of us get it. The fraud and banking conspiracy continues.

    Reply
  • Where did boi get the 1.5 billion euro fund from in the first place & did they just announce losses of 180 million or similar last week on Their track record how are they allowed a banking licence
    Where is the choice for consumers I think most people would move their mortgages to a clean new bank that’s not connected to the government and not for profit .

    Reply

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