First-time buyers fuel rise in mortgage approvals 

New BPFI data shows that first-time buyers made up more than 62% of total approvals in April, while mover purchasers accounted for 18%

The value of mortgage approvals rose by just over 5% month-on-month and by 13.6% year-on-year. Photo credit should read: Yui Mok/PA Wire

A total of 4,705 mortgages were approved in April this year, marking an almost 5% rise compared to the previous month.

New figures released by the Banking and Payments Federation Ireland (BPFI) found that first-time buyers made up more than 62% of total approvals, while mover purchasers accounted for 18%.