Bank of Ireland UK sees increase in mortgage lending

Jessica Nangle

March 16, 2020

bank of ireland (BoI)

Bank of Ireland UK saw an increase in mortgage lending in 2019, with residential mortgage lending up 9% to £3.6bn.

The bank saw growth in their residential mortgage loan book as it reached £16.6bn, up 4.4% on 2018.

There was a 52% increase in customer retention, rising from £1bn to £1.5bn in 2019.

This follows the introduction of paperless mortgages for new and existing customers of the bank and expansion of bespoke mortgages to intermediaries and branches across Northern Ireland. 

Ian McLaughlin, chief executive at Bank of Ireland UK, said: “We are delighted to see continued growth in our mortgage book at a time when the mortgage market is highly competitive.

“We have made good progress in delivering our mortgage strategy to pivot more towards niche mortgage segments, whilst optimising our volumes in mainstream mortgages.

“We’re particularly proud of the early success of our Bespoke service, launched last year.

“This tailored underwriting service to brokers in Northern Ireland will help even more people get on the property ladder, upsize to a bigger home or simply purchase their dream home.”

“The launch of paperless mortgages continues to enhance our proposition.

“This innovation will make the process of buying a new home much simpler, easier and faster for our customers.

“There are significant benefits, not only in terms of speed and security, but also eliminating up to two million pieces of paper a year.”

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