Number of mortgages approved in early 2016 declined by 15%

New figures also show that mortgage switching increased in the three months to the end of February

An average of 1,951 mortgages were approved per month

The number ofmortgages approved in the three months to the end of February fell by 15.1 per cent on the previous year, with an average of 1,951 mortgages approved per month, new figures show.

The data, from the Banking & Payments Federation Ireland (BPFI), showed that 51 per cent of mortgages were forfirst-time buyers while movers accounted for a further 29 per cent.

The value of mortgages approved per month was €374 million, ...