Mortgages: Outstanding loan amount falls
The number of loans outstanding to households continued to fall, new figures show.
Mortgages, which accounted for 77pc of the total amount of loans given out, fell by €68m in the final three months of last year.
This mainly reflects a fall of €67m in fixed rate mortgages, according to data from the Central Bank.
The annual rate of decline in loans for homes was 2.1pc in the fourth quarter, following a 2.4pc decline in the previous quarter.
The total amount of mortgages outstanding stood at €115.7bn at the end of December, down from €116.9bn in the period between July and September.
Tracker mortgages alone accounted for 48pc of outstanding mortgages and recorded a €684m decrease in the fourth quarter.
Fixed rate mortgages declined by €205m.
But, by contrast, standard variable rate mortgages and mortgages fixed for up to one year increased by €586m and €113m respectively over the same period.
In total, these floating rate mortgage categories accounted for 92pc of the outstanding amount of loans for homes at the end of December
The outstanding amount of loans for buy-to-let residential properties, representing 22pc of loans for house purchase, fell by €295 million over the quarter, to stand at €17.2bn at the end of December.