Tuesday 20 March 2018

Surge in mortgage lending as property market improves

Charlie Weston

Charlie Weston

THERE has been a surge in the number of potential property buyers approved for a mortgage in February.

New figures from the Irish Banking Federation out this morning show a rise of 33pc in the numbers granted a mortgage when compared with the same month last year.

Not all of these will end up being drawn down by home buyers.

Close to 1,500 mortgages were approved by the banks in the month of February.

This is a third higher than the same month last year.

Economist with Goodbody Stockbrokers Dermot O’Leary said banks had stepped up lending to new buyers.

See today’s Irish Independent for a Your Money Guide for First-Time Buyers.

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