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Mortgage Approvals – January 2018

27th February 2018

Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for January 2018.*

The following are the key elements:

  • A total of 3,145 mortgages were approved in January 2018 – some 1,500 (47.7% of total volume) were for first-time buyers (FTBs) while mover purchasers accounted for 910 (28.9%).
  • The number of mortgages approved rose by 11.6% year-on-year and by 14.6% month-on-month.
  • Mortgages approved in January 2018 were valued at €689million – of which FTBs accounted for €329million (47.8%) and €232million (33.7%) by mover purchasers.
  • The value of mortgage approvals rose by 20% year-on-year and by 15.2% month-on-month.

Re-mortgage/switching approvals rose on a year-on-year basis – by 74.8% in value and by 77.6% in volume terms. An analysis of mortgage approvals on an annualised basis shows that the fastest growing segment, yet again, was switching – with volumes more than doubling between April 2016 and January 2018 to 3,772. In addition, the annualised volume of mortgage approvals rose for the 22nd consecutive month, rising by 0.8% in the 12 months ending January 2018 to 43,401.

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 January 2018  as well as the time series data file is available on the BPFI website here.


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

Note: Banking & Payments Federation Ireland represents 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: Keira Doyle, Head of Communications, 086 2694460

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