BPFI Mortgage Approvals – April 2024

Strong growth in mortgage approvals in April as volumes rise by 14% year on year – latest figures from BPFI

Almost two-thirds of approvals for first-time buyers in April

Friday 24th May 2024 – Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Approvals Report for April 2024. The following are the key elements:

  • A total of 4,446 mortgages were approved in April 2024 – first-time buyers (FTBs) were approved for 2,828 mortgages (63.6% of total volume) while mover purchasers accounted for 898 (20.2%).
  • The number of mortgages approved rose by 17.7% month-on-month and by 14.0% compared with the same period last year.
  • Mortgages approved in April were valued at €1,321 million – of which FTBs accounted for €862 million (65.3%) and mover purchasers for €315 million (23.8%).
  • The value of mortgage approvals rose by 19.9% month-on-month and by 18.4% year-on-year.
  • Re-mortgage/switching activity rose by 30.7% in volume terms year-on-year and by 23.9% in value in the same period.

Speaking on the publication of the data, Brian Hayes, Chief Executive, BPFI stated: “Our latest report shows that mortgage approval activity grew strongly in April 2024 as volumes and values rose by 14% and 18.4%, respectively, year on year. The number of FTB mortgage approvals grew by 17% year on year and accounted for almost two thirds of approval volumes (63.6%) in April, the second highest share of approvals since the data series began (after 64.3% in May 2023). On an annualised basis, there were 30,776 FTB approvals in the twelve months ending April 2024, also the second highest level since the data series began (after the twelve months ending February 2024).”

“Mover purchase approvals also grew in April 2024, albeit at a slower rate than FTBs, up 2.4% in volume year-on-year and comprising over one fifth of the share of approvals (20.2%) in April.”

Mr Hayes added: “Overall, the report shows a continued rise in mortgage activity with 49,473 approvals in the twelve months ending April 2024, up 1.12% compared to the twelve months ending March 2024, and figures signal a particularly positive pipeline for FTB mortgages.” 

The BPFI Mortgage Approvals report data series since February 2011 is available to download here.


Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland, and the Fintech & Payments Association of Ireland, BPFI has over 110 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: Fiona Murphy, Head of Communications, 087 9740046, or Jillian Heffernan, Director of Communications, 087 9016880,

The BPFI Mortgage Approvals Report - April 2024 is available for download below in PDF format.