Mortgage demand is at an alltime high, significantly impacting credit union lending. Recent statistics indicate that mortgage lending at credit unions has surged by 28% in the year leading up to September, compared to the previous year. This growth has driven overall lending in the sector to unprecedented levels.
Record Levels in Mortgage Lending
As of now, mortgage lending through credit unions is nearing €1 billion. This substantial increase reflects a shift in the mortgage market dynamics, with credit unions increasingly becoming key players.
Aiming for Future Growth
Credit unions are not stopping at current figures. They aim to expand their mortgage lending significantly, targeting tens of billions of euro in the coming years. This ambition highlights the sector’s commitment to meeting rising consumer demand and enhancing competition within the mortgage market.
Key Highlights
- Surge in Lending: 28% increase in mortgage lending in the last year.
- Total Mortgage Lending: Approaching €1 billion.
- Future Ambitions: Plans to grow lending to tens of billions of euro.
The current surge in mortgage demand has thus propelled credit union lending to remarkable heights, potentially reshaping the landscape of mortgage financing in the region. As credit unions continue to innovate and expand, the future looks promising for both lenders and borrowers alike.