Irish household debt is falling but still remains high – here are some recent figures on Mortgages in Ireland.
In 2016, on average, First Time Buyers in Ireland borrowed 79 per cent of the house value and an average of 2.9 times household income.
Second time and Subsequent housebuyers borrowed , on average, 66 per cent of the house value and 2.4 times household income.
In the first 3 months of 2017 the average standard (SVR) or LTV (Loan-to-Value) variable interest rate on Primary Dwelling House mortgages in Ireland stood at 3.75 per cent on outstanding loans. This was a fall from 3.94 per cent in Q1 2016.
For First Time Buyers in Ireland , 52 per cent of mortgages were taken out at fixed rates between July and December 2016. Of these – 39.6 per cent were fixed for over 1 year . Variable rates were taken out by 53% of Second and Subsequent Buyers . Buy-to-Let mortgages were 91 per cent variable rate.
Mortgages taken out by FTBs from July to December 2016, had an average loan-to-value ratio of 79% and the average loan-to-income ratio was 2.9.
The corresponding figures for Second an subsequent buyers were 66.3 % and 2.4 respectively.
The overall value of mortgages in arrears was €16.6bn in Q4 2016.