First time buyer mortgage approvals top €1bn in July

The number of mortgages approved by Irish banks in July rose 12% compared to July of last year.

The number of mortgages approved by Irish banks in July rose 12% compared to July of last year with first-time buyer approvals passing the €1bn mark.

New figures from the banking representative body, Banking & Payments Federation Ireland (BPFI) show a total of 5,313 mortgage approvals in the month. The number of mortgages approved rose by 18.6% month-on-month and by 11.9% compared with the same period last year.