Mortgage approvals reached almost €1.2 billion in February, as mortgage demand remains robust – BPFI
Tuesday 31st March 2026 – Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Approvals Report for February 2026. The following are the key elements:
- A total of 3,649 mortgages were approved in February 2026 – first-time buyers (FTBs) were approved for 2,316 mortgages (63.5% of total volume) while mover purchasers accounted for 664 (18.2%).
- The number of mortgages approved rose by 20.3% month-on-month and 6.7% compared with the same period last year.
- Mortgages approved in February were valued at €1,187 million – of which FTBs accounted for €765 million (64.4%) and mover purchasers for €243 million (20.5%).
- The value of mortgage approvals rose by 24.4% month-on-month and by 10.1% year-on-year.
- Re-mortgage/switching activity fell by 12.3% in volume terms year-on-year and rose by 1.4% in value in the same period.
Commenting on the publication of the latest data, Brian Hayes, Chief Executive, BPFI said: “Our latest report shows that there were 3,649 mortgage approvals in February 2026, up 6.7% compared February 2025. The value of approvals reached almost €1.2 billion, an increase of over 10% (10.1%) compared to the same period last year, and the highest February value since the data series began in 2011. First-time buyers (FTBs) continue to dominate the market, accounting for almost two-thirds of approvals valued at €765 million, the highest February FTB levels on record.”
He continued: “Looking more broadly at the annualised figures, there were 53,132 mortgage approvals in the twelve months ending February 2026, valued at almost €17 billion (€16,970 million). The value of the annualised FTB approvals also reached record levels, exceeding €10.5 billion during this period.”
Mr Hayes concluded: “Our February data indicates that mortgage demand remains robust, with FTBs continuing to drive activity across the market. The Revenue Commissioners recently reported 27,899 Help to Buy applications from FTBs in 2025, an increase of 15.6% on 2024 while the number of claims increased by 12.1% to 9,575. In the first two months of 2026, there has already been 12,379 Help to Buy applications, about 54% higher than in the same period of 2025. With more than 32,000 FTB mortgage approvals in the twelve months ending February 2026, there is a strong pipeline for lending in the months ahead.”
The BPFI Mortgage Approvals Report February 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
