Switching continues to drive growth in mortgage market

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New figures from Banking and Payments Federation Ireland (BPFI) show that 5,433 mortgages were approved last November, up 1.6% on the previous month, and 9.6% on November 2021.

The value of mortgage approvals in November hit almost €1.5 billion, up 2.5% on October, and almost 17% higher than the same time the previous year.Today's figures show that non-purchase mortgage activity, which includes switching and top-ups, grew by 64.4% year on year in volume terms to 1,647 and by 93.3% year on year in value terms to €425 million.

The BPFI figures show that almost 55,000 mortgages were approved in the year to November 2022, valued at almost €14.9 billion.

 

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