The rate of new mortgage approvals continued to grow in March according to the latest IBF Mortgage Approvals Report which tracks the number of new mortgages approved by mainstream lenders.

Mortgage approvals increase in March

The latest figures from the report show that 1,167 mortgages were approved during March to the value of €196m – some €186m of which was for house purchase. Though down on an annual basis, this represents a volume increase of 6.8% and a value increase of 15.9% over the month of February.

Data collection for the IBF Mortgage Approvals Report began in August 2012 covering the period from January 2011 onwards in respect of the market’s main mortgage lenders. The report can be viewed on the web at www.ibf.ie