Mortgage approvals leap by almost one-third

An over 30% increase in the last three months...

Mortgage approvals leap by almost one-third

File photo | Image: RollingNews.ie

There was a 30.8% year-on-year increase in the number of Irish mortgage approvals in the three months to the end of November, according to new figures from the Banking and Payments Federation Ireland (BPFI).

Some 3,377 mortgages gained approval during that period. Not only that, the value of those home loans was up 43.2%. The monthly value of mortgages was €680m – €309m to first-time buyers and €267m to mover purchasers.

The trend of renewed confidence from lenders is also picking up pace, with mortgage value approvals jumping 61% in November alone. 

Loans granted to first-time buyers grew at the fastest pace, climbing 70% year-on-year that month. More than 47% of approvals for the three-month period were for first-time buyers, with movers accounting for 32.4%.