Level of mortgage approvals on rise

Last month saw a 7.3% annualised increase in the level of mortgages being approved by the country’s mainstream lenders.

The updated figures — published by the Irish Banking Federation — also show an 8.8% year-on-year rise in the level of approvals to those using the mortgage for house purchase.

As much as 92% of new approvals are now accounted for by house purchases.