Mortgage approvals rose 5 per cent in February, with first-time buyers making up just over half of total approvals during the month. Mover purchasers made up 808, or almost 26 per cent. But the figures were lifted by mortgage switchers and top-ups, as the volume of purchase mortgage activity fell 1.8 per cent in February 2018 as residential investment letting mortgages fell by 12.3 per cent and mover purchasers fell 5.8 per cent year on year. There were a total of 2,523 purchase mortgage approvals, valued at €580 million during February. Overall, a total value of €691 million in home loans was approved, with €351 million going to first time buyers and €211 million to mover purchasers.

Source: The Irish Times March 27, 2018 07:07 UTC