The mortgage market continues to recover after it came to a virtual standstill earlier in the year due to the pandemic and lockdown. The Banking and Payments Federation said just over half of those approved for a mortgage are first-time buyers. October was the busiest month for mortgage approvals since the banking federation began recording approval activity in 2011. Some €692m of this was accounted for by first-time buyers, with mover purchasers for approved for borrowing worth €388m. The overall value of mortgage approvals in November was up by a third in the year.

Source: Irish Independent December 22, 2020 02:32 UTC