Banking representatives play down slowing mortgage activity in February

Fall in the context of a 'significant decline we are seeing in switching activity', Banking and Payments Federation chief says

Banking and Payment Federation Ireland chief executive Brian Hayes said despite the slowdown seen in February, mortgage activity remains at 'historically high levels', with demand being particularly strong among first-time-buyers.

Chief executive of the Banking and Payments Federation of Ireland (BPFI) Brian Hayes has played down a fall in mortgage activity in February, saying it was “expected” given the wave of switching seen in recent months.

New BPFI figures show a significant decline in mortgage switching, while overall mortgage approvals slowed down compared to January.