Approval activity up 6% in volume and 7% in value compared with same month last year, according to banks’ dataFigures from lobby group Banking and Payments Federation Ireland show 3,582 mortgage approvals, valued at just over €1bn in February. Photograph: iStockactivity up by 6 per cent in volume and by 7 per cent in value in February compared with the same month last year, new data from
“This has ongoing implications for the supply of second-hand homes to the market which has been slowing down in recent months and the Central Statistics Office reported a 6 per cent year-on-year drop in household purchases of existing homes in January.” The data shows residential investment letting mortgage approval volumes fell by 13.8 per cent year-on-year to 56.The number of switching and remortgage approvals rose by 0.5 per cent year on year to 432. The number of top-up approvals fell by 1.3 per cent year on year to 228.
Residential investment letting mortgage approval values increased by 29.1 per cent year on year to €12 million.
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Record levels of first-time mortgages approved in FebMortgage approvals for first-time buyers hit a record annualised high in February.
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