Banks ‘unlikely to meet mortgage goals’

The main banks are unlikely to meet previously stated mortgage lending predictions for this year, one industry representative has warned, despite new approval figures suggesting signs of market growth.

A total of 1,433 new mortgages were approved by lenders last month, representing a near 23% rise on March — and an almost 9% year-on-year increase.

The April figures, published yesterday by the Irish Banking Federation, show that the combined value of new home loan approvals amounted to €240m, during the month. Recent IBF data showed that, during the first three months of this year, 2,068 new mortgages were issued, representing a combined value of €331m.