Bank of Ireland’s gross UK mortgage lending fell by 8% in the first half of the year compared to the same period last year, from £1.2bn to £1.1bn, its interim financial results showed.
The bank’s retail UK mortgage book was valued at £13.3bn at the end of June, which compared to £13.4bn at the end of December.
Operating income was £13m lower than in H1 2024 due to lower net interest income, as a result of lower mortgage margins because of lower base rates in the period.
Overall, the group delivered profit before tax of €0.7bn (£0.61bn), with group chief executive Myles O’Grady confirming the bank was on track to deliver its full-year targets.
Last year, the bank completed £2.4bn in gross mortgage lending in the UK for the full year, up from £1.7bn in 2023.
