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Continued growth shown in February Mortgage Approvals, driven by first-time buyers

26th 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.

 

[*] The full time series of monthly data from January 2011 onwards is available on the BPFI website.

 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.

Contact: For further information contact Jillian Heffernan, Head of Communications, jillian.heffernan@bpfi.ie 087 9016880

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