Mortgage approvals drop 6% in June – BPFI report

But BPFI chief Brian Hayes said it was the third strongest June for first-time buyer approval volumes since the data began in 2011

Banking and Payments Federation Ireland data shows that approvals for first-time buyers fell over 9% in June compared to the same month last year. Picture: iStock

Mortgage approvals slumped by 6% during June as the number of first-time buyers and mover-purchasers fell compared to last year, new data from the Banking and Payments Federation, Ireland (BPFI) shows.

In June, approvals for first-time buyers dropped 9.1% year-on-year to 2,740, while the number of mover-purchaser approvals dropped 10.4% to 980.