Mortgage approvals reach almost €1.8 billion in July 2025, the highest level on record – latest figures from BPFI
- Total mortgage approval volumes and values in July 2025 increased by 2.9% and 10.0% respectively, year on year
- There were 3,356 first-time buyer (FTB) mortgage approvals with values exceeding €1.1 billion for the first time
Friday 29th August 2025 – Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Approvals Report for July 2025. The following are the key elements:
- A total of 5,467 mortgages were approved in July 2025 – first-time buyers (FTBs) were approved for 3,356 mortgages (61.4% of total volume) while mover purchasers accounted for 1,142 (20.9%).
- The number of mortgages approved rose by 12.0% month-on-month and by 2.9% compared with the same period last year.
- Mortgages approved in July were valued at €1,771 million – of which FTBs accounted for €1,105 million (62.4%) and mover purchasers for €435 million (24.5%).
- The value of mortgage approvals rose by 13.7% month-on-month and by 10.0% year-on-year.
- Re-mortgage/switching activity rose by 27.0% in volume terms year-on-year and rose by 49.9% in value in the same period.
Commenting on the publication of the latest data, Brian Hayes, Chief Executive, BPFI said: “The latest mortgage figures show continued growth in July, with approval volumes and values increasing by 2.9% and 10.0% respectively, year on year. In total, there were 5,467 mortgage approvals in July with overall values reaching the highest level since the data series began in 2011 at almost €1.8 billion (€1,771 million).”
He continued: “Looking more closely at key segments, there were 3,356 first-time buyer (FTB) mortgage approvals valued at €1,105 million. These are the highest FTB volume and value levels since the data series began, with values exceeding €1.1 billion for the first time. While the number of mover purchase approvals fell by 7.2% year on year to 1,142, this was the third highest volume (after July 2024 and July 2023) since November 2022. It’s worth noting that mortgage approval activity in the FTB and mover purchase segments usually peaks between May and July. Meanwhile, mortgage switching approvals continued to grow with volumes and values increasing by 27% and 49.9%, respectively, year on year.”
Mr Hayes concluded: “In annualised terms, FTB activity reached new heights with 32,363 mortgage approvals valued at almost €10.4 billion (€10,354 million) in the twelve months ending July 2025. FTB demand remains very strong with the Revenue Commissioners reporting that Help to Buy applications reached almost 26,000 in the first seven months of the year, 47% more than in the same period of 2024. Over the same period, Help to Buy claims exceeded 5,500, up 14% year on year.”
The BPFI Mortgage Approvals Report July 2025 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.
