Banks have increased their lending, insist Allsop Space

Banks have increased their lending, insist Allsop Space

Allsop Space, the company behind last week’s auction in the Shelbourne Hotel that raised almost €13 million, have insisted that banks have started to increase their lending to property buyers.

The company said that 40% of the properties sold at last Thursday’s auction in Dublin were bought with bank finance, as opposed to 28% for its last two auctions of 2011 and just 14% for its auction held this time last year.

Both Bank of Ireland and Ulster Bank were represented at last week’s auction with the aim of attracting mortgage customers. Thursday’s event was Allsop Space’s sixth in 12 months and so far they have sold 492 properties here.

Robert Hoban of Allsop Space told the Irish Independent that Bank of Ireland seen the auctions as a good chance to canvass people.

“They said that with 2,000 people regularly attending each auction and most intent on buying, they’d be well placed to catch people who might end up attending the next auction and then sort them out with finance.”

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