Remortgaging activity drives mortgage growth in April

Average mortgage value for first-time buyer stands at €333,000 — up 1% annually

Chief executive of the BPFI Brian Hayes. 

An increase in mortgage switching and top-up approval activity in April cushioned the market against a slight fall-off in the number of first-time buyer and mover-purchaser mortgage approvals, new data from the Banking and Payments Federation, Ireland (BFPI) shows.

In April, a total of 4,729 mortgages were approved, an increase of 0.5% from the 4,705 recorded in the same month last year. Of this, first-time buyers were the largest component, accounting for 2,899, a decline of 0.3% year-on-year.