Strong growth in mortgage approvals in February

The number of mortgages approved rose by 7.5 per cent month-on-month

Today’s figures show that re-mortgage or switching grew by just under 42.9 per cent. Picture: Getty

There was strong growth in mortgage approvals in February with switching volumes increasing 42 per cent year-on-year, according to the latest figures from Banking and Payments Federation Ireland (BPFI).

According to today’s figures, a total of 3,894 mortgages were approved last month. First-time buyers were approved for 2,053 mortgages, 52.7 per cent of the total volume, while mover purchasers accounted for 848, or 21.8 per cent.

The number of mortgages approved rose by 7.5 per ...