Remortgaging boom continues as April sees drop in overall approvals

Existing and potential homeowners looking at fixed rates over fears of interest rate rises

'High volume of existing mortgage holders seeing if they can obtain better terms from the market.'

There has been a slowdown in the number of mortgages approved with €1.2bn in new loans issued by Irish banks in April.

Figures from the Banking & Payments Federation Ireland (BPFI) show a total of 4,304 mortgages were approved in April, a fall of 5.9% on March and of 1.3% compared to April 2021. First-time buyers (FTB) accounted for 53.3% of those approved mortgages.