Continued growth shown in February Mortgage Approvals, driven by first-time buyers26th March 2020
Some 3,514 mortgages to the value of €825 million were approved in February
Approvals growth driven mainly by first-time buyers, with FTB volumes up 11.6% year on year
Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for February 2020.*
The following are the key elements:
- A total of 3,514 mortgages were approved in February – some 1,890 (53.8%) were for first-time buyers (FTBs) while mover purchasers accounted for 849 (24.2%).
- The number of mortgages approved rose by 7.6% month-on-month and by 4.5% year-on-year.
- Mortgages approved in February 2020 were valued at €825 million – of which FTBs accounted for €455 million (55.2%) and €221 million (26.8%) by mover purchasers.
- The value of mortgage approvals rose by 10.9% month-on-month and by 9.0% year-on-year.
Re-mortgage/switching volumes fell by 1.4% on the previous month but rose by 8.2% year-on-year.
Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.