Almost €1.7 billion in mortgages approved in August with volumes up 12% year on year and values up by 15% – BPFI
- Strongest August on record for mortgage approvals, with almost 5,100 approvals valued at nearly €1.7 billion
- First-time buyers remained the main driver of activity, accounting for almost 60% of approval volumes in August
- 55,854 mortgage approvals in the twelve months to August 2026, valued at almost €18.1 billion, exceeding €18 billion for the first time
Friday 25th September 2026 – Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Approvals Report for August 2026. The following are the key elements:
- A total of 5,083 mortgages were approved in August 2026 – first-time buyers (FTBs) were approved for 3,024 mortgages (59.5% of total volume), while mover purchasers accounted for 982 (19.3%).
- The number of mortgages approved fell by 18.7% month on month but rose by 12.1% compared with the same period last year.
- Mortgages approved in August were valued at €1,678 million – of which FTBs accounted for €1,008 million (60.1%) and mover purchasers for €389 million (23.2%).
- The value of mortgage approvals fell by 17.6% month on month but rose by 15.3% year on year.
- Re-mortgage/switching activity rose by 36.1% in volume terms year on year, while the value increased by 39.9% over the same period.
Commenting on the publication of the latest data, Brian Hayes, Chief Executive, BPFI said: “August 2026 was the strongest August on record for mortgage approvals since the data series began in 2011, with 5,083 approvals valued at almost €1.7 billion. Volumes rose by 12.1% year on year and values increased by 15.3%, marking the seventh consecutive month of annual growth in approval values. While activity eased from the July peak, this reflects the normal seasonal pattern, with mortgage approvals typically highest between May and July.”
Looking more closely at customer segments, he continued: “First-time buyers (FTBs) remained the main driver of activity, accounting for almost 60% of approval volumes in August. There were 33,432 FTB approvals in the twelve months to August, the highest level recorded, while their annualised value reached more than €11 billion for the first time. Mover purchase approvals also recorded strong growth, with their annualised value also reaching a new high of €4 billion. This likely reflects sustained housing and mortgage demand which is evident in the more than 30,000 Help to Buy applications in the first eight months of 2026, compared with about 28,000 during all of 2025.”
Mr Hayes concluded: “The wider annualised picture also remains positive. There were 55,854 mortgage approvals in the twelve months to August 2026, valued at almost €18.1 billion, exceeding €18 billion for the first time. This indicates there is a healthy base for mortgage drawdowns for the rest of the year.”
The BPFI Mortgage Approvals Report August 2026 is available here.
The BPFI Mortgage Approvals Report data series since January 2011 is available to download here.
Ends/
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 120 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace.
Contact: Fiona Murphy, Head of Communications, fiona.murphy@bpfi.ie or Jillian Heffernan, Director of Communications, jillian.heffernan@bpfi.ie.
