New mortgage approvals rise to €15bn as customers seek new deals amid rising interest rates

Nearly €15 billion worth of mortgages were approved last year, according to figures from the country’s banking lobby group, in a trend driven largely by the high number of people switching lenders amid rising interest rates.

Data from the Banking and Payments Federation Ireland (BPFI) showed that some €1.5 billion worth of mortgages were approved in November 2022 alone – a 2.5 per cent increase compared with the previous month and significantly higher than the ...