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

6th April, 2016
An average of 1,951 mortgages were approved per month

The value of mortgages approved per month was €374 million, down by 14.6 per cent year-on-year.

The BFPI figures also showed that re-mortgaging or switching increased in the period, accounting for around 8.5 per cent of the value of the mortgages approved in the period, up from 4.6 per cent in the same period of 2015.

Analysts noted that Central Bank lending restrictions introduced last year, which set ceilings on the amount that prospective home owners could borrow, were...

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