Wednesday 16 April 2014

Number of mortgage approvals in December shoots up 30pc compared to 2011

THERE was a strong rise in the number of people approved for a mortgage last month.

New figures out today show that 1,446 buyers got the green light from their bank for a mortgage in December, a rise of 30pc on the same month in 2011.

The value of these approvals amounted to €234m, according to the Irish Banking Federation.

The banking federation said the new figures showed continued growth in the number of mortgages approved by mainstream lenders.

The new data series tracks mortgage approvals from nine major lenders - Bank of Ireland, Allied Irish Banks, EBS, KBC, Permanent TSB, Ulster Bank, Danske Bank, Haven Mortgages and ICS Building Society.

These lenders account for most of the market.

However, not all of the people approved for a mortgage end up drawing down the mortgages.

But the numbers approved in December were lower than for November, which bankers said was due to the fact that December was a shorter business month.

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