April 2023 (1)

Latest figures from BPFI show continued growth in first-time buyer mortgage approvals amid general slowdown..

Mortgage activity remains at historically high levels with almost €1 billion in approvals for FTBs and mover purchasers in April.

 

Thursday 15th June 2023 – Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Approvals Report for April 2023. The following are the key elements:

  • A total of 3,899 mortgages were approved in April 2023 – first-time buyers (FTBs) were approved for 2,417 mortgages (62.3% of total volume) while mover purchasers accounted for 877 (22.5%).
  • The number of mortgages approved fell by 13.7% month-on-month and by 9.4% compared with the same period last year.
  • Mortgages approved in April were valued at €1,116 million – of which FTBs accounted for €701 million (62.9%) and mover purchasers for €297 million (26.6%).
  • The value of mortgage approvals fell by 14.3% month-on-month and by 4.2% year-on-year.
  • Re-mortgage/switching activity fell by 63.5% in volume terms year on year and by 64.6% in value in the same period.

BPFI Contact: Fiona Murphy, Head of Communications, 087 9740046, fiona.murphy@bpfi.ie or Jillian Heffernan, Director of Communications, 087 9016880, jillian.heffernan@bpfi.ie.

 

Read the full BPFI Mortgage Approvals Report April 2023 below, or download here.

BPFI-Mortgage-Approvals-Report-April-2023

 

Whether you are  looking to switch lender currently, keen to switch to a suitable fixed rate, are  a first time buyer or  moving home and should you have any concerns about the issues raised in this article,  or investing in a buy-to-let property, why not chat to a Seaspray Mortgage adviser today about finding the mortgage or rate that’s right for you:

tel.+353 83 099 0442     or email     john.finnamore@seasprayfs.ie

EON

Seaspray Financial Services Ltd  is regulated by the Central Bank of Ireland with registered number C165527

 

References

Shevlin, L. (2023) ‘Latest figures from BPFI show continued growth in first-time buyer mortgage approvals amid general slowdown ’, Banking & Payments Federation Ireland, 15 June. Available at :  https://bpfi.ie/wp-content/uploads/2023/06/BPFI-Mortgage-Approvals-Report-April-2023.pdf  (Accessed 15 June 2023).

 

 

 

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