Mortgage drawdowns fall by almost a third despite September rebound

Figures for mortgage approvals the month of September increased by more than 20% compared to September 2019

Mortgage drawdowns fell by 30.3% in volume and 25.8% in value on the corresponding third quarter of 2019. Picture: iStock

The number of mortgages drawn down from Irish banks in the third quarter fell by almost a third compared to last year new figures show.

Between July and the end of August, 8,220 new mortgages to the value of €1.9 billion were drawn down by borrowers. This represents a fall of 30.3% in volume and 25.8% in value on the corresponding third quarter of 2019.