Over 27,000 first time buyer mortgages drawn down in the 12 months to end of September, the highest annualised number since 2007 – latest BPFI figures
- In Q3 2025, mortgage drawdowns rose in volume by 7.7% and in value by 16.6% year-on-year with 12,570 mortgages valued at almost €4 billion.
- New properties (including self-builds) accounted for over a third (35.8%) of home mortgage drawdowns in Q3 2025. The value of home mortgage drawdown on new properties reached over €1.2 billion (€1,210 million), the highest Q3 level value since 2007.
- There were 53,547 mortgage approvals in the twelve months ending September 2025 valued at almost €16.9 billion, the highest annualised value since the data series began in 2011.
Friday 24th October 2025 – Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Drawdowns Report for Q3 2025 and the BPFI Mortgage Approvals Report for September 2025.
The following are the key figures from the Mortgage Drawdowns Report for Q3 2025:
- A total of 12,570 new mortgages to the value of €3,974 million were drawn down by borrowers during the third quarter of 2025.
- This represents an increase of 7.7% in volume and 16.6% in value on the corresponding third quarter of 2024.
- A comparison with the previous quarter (Q2 2025) shows increases of 14.5% in volume and 17.9% in value.
- First-time buyers (FTBs) remained the single largest segment by volume (59.6%) and by value (60.8%).
- Re-mortgage/switching volumes and values increased by 35.0% and 57.9% year on year respectively.
In addition, BPFI also published today the latest figures from the BPFI Mortgage Approvals Report for September 2025:
- A total of 4,761 mortgages were approved in September 2025 – some 2,872 were for FTBs (60.3% of total volume), while mover purchasers accounted for 920 (19.3%).
- The number of mortgages approved in September rose by 5% month-on-month and by 7.1% year-on-year.
- Mortgages approved in September 2025 were valued at €1,486 million – of which FTBs accounted for €916 million (61.6%) and €339 million by mover purchasers (22.8%).
- The value of mortgage approvals rose by 2.1% month-on-month and by 11.9% year-on-year.
- Re-mortgage/switching activity rose by 34.4% year on year in volume terms and by 52.0% in value in the same period.
Speaking on the publication of the reports, Brian Hayes, Chief Executive, BPFI said: “Our latest data shows that mortgage activity in Ireland remains robust with mortgage drawdown volumes up 7.7% year on year to 12,570 in Q3 2025. Values rose by 16.6% over the same period to almost €4 billion (€3,974 million). In annualised terms, there were 45,774 mortgage drawdowns in the twelve months ending Q3 2025, valued at €14.1 billion. First-time buyers (FTBs) continued to be the most active segment in the market, accounting for 59.7% of annualised drawdown volumes (27,330), valued at more than €8.6 billion (€8,616 million). These were the highest annualised FTB volumes since the twelve months ending Q4 2007 and the second highest values since the data series began in 2003 (FTB drawdowns reached €8,692 million in the twelve months ending Q3 2006).”
Mr Hayes continued: “Looking at property status, new properties (including self-builds) accounted for over a third (35.8%) of home mortgage* drawdowns in Q3 2025, up from 31.6% in Q3 2024. Home mortgage drawdown volumes and values on new properties increased year on year by 17.9% and 25.2%, respectively, over the same period, while the value reached over €1.2 billion (€1,210 million), the highest Q3 value since 2007. This was largely driven by an increase in FTB mortgages on new properties, up by 21.8% in volume to 3,017 and by 29.9% in value to more than €1 billion (€1,017 million). In contrast, mover purchasers accounted for just 521 new property mortgage drawdowns valued at €193 million in the same period.”
Looking at the most recent mortgage approval figures, Mr Hayes added: “Mortgage approvals meanwhile rose by 7.1% in volume year on year to 4,761 in September 2025 with values up 11.9% to almost €1.5 billion. In annualised terms, there were 53,547 mortgage approvals in the twelve months ending September 2025 valued at almost €16.9 billion, the highest value since the data series began in 2011.”
The BPFI Mortgage Drawdowns Q3 2025 report is available to download here.
The BPFI Mortgage Approvals September 2025 report is available to download here.
Ends/
*Home mortgages include FTB and mover purchase mortgages.
Data Series:
Mortgage drawdown data from Q1 2005 onwards is available in Microsoft Excel XLS format in the BPFI Mortgage Drawdowns report data series. Download the BPFI Mortgage Drawdowns Report time series here.
All mortgage approvals data from January 2011 onwards is available in Microsoft Excel format (*.xls) in the BPFI Mortgage Approvals report data series. The BPFI Mortgage Approvals report data series 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 120 member institutions and associates.
