Fall in the level of approvals in December
Increase in the total number of approvals in 2015 over 2014
Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for the three months ending December 2015.
The following are the key elements:
- A total of 2,375 mortgages were approved per month, on average, in the three months ending December 2015 – some 1,214 (51%) were for first-time buyers (FTBs) while mover purchasers accounted for 687 (29%).
- The number of mortgages approved fell by 14.6% year-on-year and by 6.7% month-on-month.
- The value of mortgages approved per month, on average, in the three months ending December was €448 million – of which €217 million (48.3%) was accounted for by FTBs and €161 million (35.9%) by mover purchasers.
- The value of mortgage approvals fell by 12.3% year-on-year and by 5.1% month-on-month.
A total of 29,925 mortgages, valued at €5.6 billion, were approved during 2015, based on the three-month moving average. This represents a year-on-year increase of 13% in volume and 17.6% in value.
This latest report provides a more in-depth breakdown of the approvals figures by segment. To date approvals in this report have been divided into two categories: purchase mortgages and re-mortgages/top-ups. Going forward, the purchase mortgages will be split into first-time buyer, mover purchase and residential investment letting, while re-mortgages and top-ups will be available separately. The data under this new categorisation will be available from July 2014.
Data collection for the BPFI Mortgage Approvals Report began in September 2012 covering the period from January 2011 onwards in respect of the market’s main mortgage lenders. The BPFI Mortgage Approvals Report December 2015 as well as the time series data file is available on the BPFI website here.
All figures are based on the three-month moving average. Year-on-year compares the average for the three months ending December 2015 with the three months ending December 2014. Month-on-month compares the average for the three months ending December 2015 with the three months ending November 2015.
Note: Banking & Payments Federation Ireland is the voice of banking and payments in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
Contact: Jillian Heffernan, Head of Communications, 087 9016880