Mortgage lending passes €1bn mark

MORTGAGE lending approvals passed the €1bn mark in May according to new figures from the Banking and Payments Federation.

Overall and mortgages approved in May 2018 were valued at €1.01bn, of which first time buyers accounted for €506m and €324m was for mover purchasers.

A total of 4,473 mortgages were approved in May 2018, some 2,230 or 49.9 per cent were for first-time buyers, while mover purchasers accounted for 1,206 or 27 per cent.

The number of mortgages approved rose by 9.8 per cent year-on-year, and by 19.2 per cent month-on-month. Growth in the re-mortgaging category continues to be the stand-out category, with the value of re-mortgaging growing 106 per cent.

Michelle O’Leary (Marketing Executive Aghadoe), Dr Tony Lenehan (Executive Director COTRI), Niall Coffey (GM Aghadoe), Niamh O’Shea (IHF Kerry Chairperson), Trish Covarr (Director of Sales Aghadoe) at the COTRI presentation ceremony.