DANSKE Bank more than doubled its mortgage lending in the second quarter of the year, it has revealed.
The bank, which offered cashback deals to new customers, approved mortgages of more than £113 million in the three months to June.
That was more than double the value for the first quarter of the year and twice the figure for the same period last year.
And the bank is continuing its cashback promotion, now offering £1,200 on new mortgages over £75,000 until November 26.
Danske said the competitive offer was among the main reasons for its uplift in lending but it came also against the backdrop of a general increase in house purchase lending in the overall market.
The bank's head of mortgage intermediaries Niall Harkin said: "What we are seeing in our own figures is mortgages we approved in the first part of the year translating into actual drawdowns as house purchases or mortgage switches completed.
“As revealed in the latest Council of Mortgage Lenders (CML) figures for Northern Ireland, the value of mortgage lending increased overall in the second quarter, with first-time buyers driving that activity.
“Looking ahead, I see two key dynamics at play in the Northern Ireland housing market,” added Mr Harkin.
“On the one hand, the fall in interest rates is brilliant news for consumers and should encourage more people to shop around and switch their mortgage to a better deal. New build activity is still positive, supporting the first-time buyer market in particular.
“On the other hand, uncertainty following the EU referendum can have an impact on confidence and in turn, someone’s decision as to whether they buy their first home or move house. Our own research showed a marginal dip in consumer confidence in Q2, but it will be quarters three and four before we start to see how uncertainties about the economic impact of Brexit might impact on confidence and on the housing market.
