AIB wants to loan €2bn for mortgages this year

AIB has doubled its mortgage lending target for 2013 to €2bn.

At the beginning of 2012, AIB committed to providing new mortgage lending of at least €1bn.

The bank finished the year having actually sanctioned €1.5bn worth of mortgages, an increase of 63% on the previous 12 months, with a total of €1.2bn drawn down by customers.

The bank's average first-time buyer mortgage was worth €160,000 last year.

"AIB has seen very positive trends in the 2012 figures," said head of mortgages at AIB, Jim O’Keeffe.

"We are exceeding our mortgage targets and as our ambitions for 2013 show we continue to be very much open for business.

"Our customers have told us that the key item for them is to be fully supported through the mortgage journey and we are launching a new campaign to ensure this continues to happen.

"We continue to provide highly competitive mortgage products at a Loan To Value (LTV) of up to 92% and would be delighted to discuss financing your mortgage, whether you are a first time buyer, mover or thinking about extending or refurbishing your existing home."

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