Home purchase mortgage drawdowns €18,000 higher than last year - report

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Mortgage switching has increased by 28% in the first quarter of the year, BPFI report shows.

Image: Shutterstock Image: Shutterstock MORTGAGE GROWTH IS being driven mainly by first-time buyers and re-mortgaging, or switching mortgages, a report has shown.

Re-mortgaging and switching activity has grown strongly in recent quarters, with drawdown volumes increasing by 27.7% year on year in Q1 2022 and approvals up by 32.8% year on year in March 2022.

 

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