Home News Almost 500 first time buyers get Mortgage approval each Week

Almost 500 first time buyers get Mortgage approval each Week

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Almost 500 first-time buyers are getting approval every week to take out a mortgage with the overall number of property buyers being approved for a mortgage has shot up in the first 10 months of 2017.

Close to 2,000 first-time buyers got the go-head from their bank to take out a mortgage in October.

This works out at almost 500 new borrowers a month entering the market equipped with mortgage financing.

Figures from the Banking and Payments Federation Ireland show that a total of 3,751 mortgages were approved last month.

This is 20% higher than the same month last year.

In the 10 months of the year so far some 36,400 potential buyers have been given the go-head to borrow, a rise of 27% on the same period last year.

The average approval amount is up 10%on last year to €215,000.