Latest data from the CML on the characteristics of lending in Northern Ireland in the fourth quarter of 2014 saw house purchase and remortgage lending up on Q3.

In the fourth quarter of 2014, first-time buyers in Northern Ireland borrowed £170m to purchase a house came to 2,000 loans. This was up 6% compared to the third quarter by value and up 5% in number of loans. Compared to the fourth quarter of 2013, total number of loans increased 11% and the amount borrowed increased by 21%.

Home movers saw an increase in numbers to 1,600 loans, valued at £190m, which was up 7% by volume and up 12% by value compared to the third quarter. Compared to the fourth quarter of 2013, there was an increase of 33% in volume and up 46% in value.

Remortgage lending increased in the fourth quarter to 1,200 loans (£120m), which was up 9% by volume and up 20% by value. Compared to the fourth quarter of 2013, activity was down 8% by volume but unchanged in value.

In 2014 as a whole, lending in Northern Ireland accounted for 1.1% of the UK-wide annual house purchase activity, up from 1% in 2013.
First-time buyers in Northern Ireland were advanced 7,500 loans coming to £620m. This was 25% up in volume compared to 2013, and 35% up in value.

Home movers in Northern Ireland were advanced 5,500 loans, which was up 38% on 2013. These loans came to £640m, which was up 49%.

Remortgage lending in Northern Ireland totalled 4,700 loans in 2014 which by value was £440m. This was unchanged year-on-year by volume compared to 2013, and 5% up by value.

Home-owner house purchase in Northern Ireland increased in the final quarter of 2014 to 3,600 loans, which was up 6% compared to the third quarter and 24% up compared to the fourth quarter of 2013. These loans came to £360m, up 6% compared to the third quarter and up 33% on the fourth quarter 2013.

Overall in 2014, the total number of loans advanced for home-owner house purchase was 13,000, which was up 30% compared to 2013. These loans totalled £1.3bn, an increase of 40% compared to 2013.