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More than one in three mortgages turned down last year – new figures


Getty Images

Getty Images

Getty Images

NEW figures show that over one in three mortgage applications last year to Irish banks were turned down.

The figures are contained in a letter from Finance Minister Michael Noonan in response to a query from Fianna Fail spokesman Michael McGrath.

Out of more than 28,500 applications last year, only 17,700 were approved by AIB, Bank of Ireland, EBS and Permanent TSB, the letter seen by RTE News shows.

This represents a turn-down rate of 38pc.