Value of mortgages increases 18% year-on-year as data hints at ‘positive pipeline’ for first-time buyers, says BPFI
approvals grew strongly last month with the volume of loans rising 14 per cent year-on-year, the latest banking industry figures show.
Google Pixel 8a review: It follows predecessors by removing unnecessary features while still being useful The value of mortgage approvals rose by 19.9 per cent month-on-month and by 18.4 per cent year-on-year. Within this, the value of first-time buyer approvals was up almost 23 per cent year-on-year, while the value of mover-purchaser approvals has climbed by a more modest 5.9 per cent.Remortgages and switching activity increased 30.7 per cent in volume terms year-on-year to 370 and by 23.9 per cent in value over the same period, to €90 million.
BPFI chief executive Brian Hayes said the latest figures pointed to strong growth in April for the volume and value of approvals. The share of approvals accounted for by first-time buyers was the second-highest since the BPFI began its data series in February 2011. The BPFI’s report was released amid wide expectations that the European Central Bank will cut its key interest rates next month.
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