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Mortgage Approvals – May 2017

29th June 2017

Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for May 2017.*

The following are the key elements:

  • A total of 4,124 mortgages were approved in May 2017 – some 2,148 (52.1% of total volume) were for first-time buyers (FTBs) while mover purchasers accounted for 1,242 (30.1%).
  • The number of mortgages approved rose by 35.4% year-on-year and by 23.5% month-on-month.
  • The value of mortgages approved in May 2017 was €884 million – of which €448 million (50.7%) was accounted for by FTBs and €327 million (37.0%) by mover purchasers.
  • The value of mortgage approvals rose by 45.1% year-on-year and by 29.1% month-on-month.

Re-mortgage or switching approvals grew on a year-on-year basis with activity accounting for 7.5% of the value and 7.6% of the volume of mortgages.

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 February 2017  as well as the time series data file is available on the BPFI website here.

[*] Up to March 2017, approval figures had been based on the three-month moving average.  From April 2017, the base monthly data has been reported. The full time series of monthly data from January 2011 onwards is available on the BPFI website.

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

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