image description

News

Surge in Mortgage Approvals in October driven by First Time Buyers

1st December 2020

Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Approvals Report for October 2020. A total of 5,207 mortgages were approved in October 2020 – first-time buyers (FTBs) were approved for 3,041 mortgages (58.4% of total volume) while mover purchasers accounted for 1,267 (24.3%). The number of mortgages approved rose by 12.7% month-on-month and by 15.4% compared with the same period last year.

Savvy first time buyers exploit highly-competitive mortgage market

The first time buyers (FTB) market is characterised by borrowers who generally are informed in their choice of product and lender, are primarily focused on getting the best value over the long term, remain very satisfied with their product choice and are in control of their repayments.

Ireland now a nation of savers/investors

A new body of research, the IBF Personal Asset Profile, undertaken by Amárach and published today by the Irish Banking Federation (IBF), shows that 9 out of 10 consumers are saving/investing – with two-thirds of them doing so on a regular basis.