Mortgage approvals on the rise

Mortgage approvals on the rise

The number of mortgage approvals increased 4.1% in 2013, it has been revealed.

The latest figures from the IBF Mortgage Approvals Report show that 18,520 applications were granted last year - 17,058 of the approvals were for home loans.

In December 2013 alone,1,700 were approved with a value of €317m.

Commenting on the figures, IBF chief executive Noel Brett stated: “The picture for 2013 shows growth in both volume and value in the level of mortgage approvals over 2012 and this upward trend is welcome.

“With November traditionally the peak month for mortgage activity, the month-on-month decline in approvals between November and December is to be expected.

“Banks are well positioned to lend to customers who meet the criteria for a mortgage – the key consideration being the borrower’s capacity to repay.”

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