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First Time Buyers accounted for more than half of the €1.28 billion of mortgages which were approved last November.
This represents a significant increase on the 1,879 mortgage approvals issued in May 2020, the BPFI said.
But banks approved half the number of new mortgages last month than in June 2019.
The bank said that it may still refuse to allow a mortgage to be drawn down if it finds a customer is unable to meet repayments.
12,112 mortgages worth €2.6 billion were drawn down during the fourth quarter of 2018.
New figures show a spike in the number of mortgage approvals.
Meanwhile, new mortgage approvals have hit a three year high, with over €400 million approved in the second quarter.
Newly-released figures from the Central Bank indicate lending for house purchase was down 1.9 per cent on an annual basis in October.
However the volume of new mortgages is still down significantly when compared with the years 2005 and 2006 – and the future abolition of mortgage interest relief is causing anxiety.
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