Value of mortgages up 4.2% annually despite drop in approvals 

Banking and Payments Federation said first-time buyer mortgage approvals remain robust despite a slowdown in mover purchase activity

First-time buyers made up 60% of mortgage approvals in October, according to the latest BPFI data. Picture: iStock

Some 4,783 mortgages were approved in October, new figures from the Banking and Payments Federation Ireland (BPFI) has found, with first-time buyers making up 60% of approvals.

In the first ten month of this year, some 45,509 mortgages have been approved, with the total value coming in at €14.5bn.