House purchases continue to account for vast majority of new mortgage approvals
The latest figures from the IBF Mortgage Approvals Report, published by the Irish Banking Federation (IBF), show that 1,494 mortgages to the value of €252 million were approved in the three months ending February 2014.*
The following are the key elements:
- A total of 1,494 mortgages were approved in February, of which 1,397 (93%) were for house purchase.
- The number of mortgages approved showed a year-on-year increase of 32.6% and a month-on-month fall of 5.9%.
- The value of mortgages approved in February was €252 million of which €243 million (96%) was for house purchase.
- The value of mortgage approvals increased by 40.8% year-on-year and fell 8.7% month-on-month.
See the full report via IBF – News > Year-on-Year Increase in New Mortgage Approvals Continues.