Mortgage approvals drop 8.5pc in three months to February

Over the course of the three months 1,951 mortgages were approved with first time buyers amounting to over half of them. The total number of mortgages approved fell by 15.1pc when compared with the same period last year.

Re-mortgages and top-ups made up 13.3pc of the total number of approvals.

The value of mortgages in the period was also down by 5.8pc when compared with the three month period ending in January.

A total of €374m worth of mortgages were given the green light during the period, which represents a 14.6pc dip year on year.

Read the full details in the Irish Independent

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