In 2017, there was € of new lending for 35,400 loans11. This was a 30% increase in the total lending from 2016 to 2017. The average loan size for first time buyers was € and € for second and subsequent buyers.
Of the mortgages in scope of the Macro prudential mortgage measures, 54% relate to first time buyers and 46% to second and subsequent buyers. Mortgage lending is important for the economy. It is critically important to the domestically focused retail banks. At the end of 2017, residential mortgages represented 58% of banks’ total gross loans12.