Mortgage Approvals – October 201728th November 2017
Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for October 2017.*
The following are the key elements:
- A total of 3,751 mortgages were approved in October 2017 – some 1,911 (50.9% of total volume) were for first-time buyers (FTBs) while mover purchasers accounted for 1,132 (30.2%).
- The number of mortgages approved rose by 19.9% year-on-year and by 2.5% month-on-month.
- Mortgages approved in October 2017 were valued at €834 million – of which €417 million (50%) was accounted for by FTBs and €299 million (35.9%) by mover purchasers.
- The value of mortgage approvals rose by 34.5% year-on-year and by 5.9% month-on-month.
Re-mortgage/switching approvals fell on a year-on-year basis – by 8.7% in value and by 7.8% in volume terms. However, an analysis of mortgage approvals on an annualised basis shows that the fastest growing segment was switching – with volumes more than doubling between January 2016 and October 2017 to 3,409.
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 October 2017 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 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.