- 49,760 mortgage approvals in the eleven months to the end of November 2025 valued at €15.8 billion
- FTB approvals reached highest year-to-date activity levels since the data series began, with over 30,000 approvals valued at almost €10 billion over the same period
- Slight decline in monthly mortgage activity year-on-year in November 2025, with approval volumes down by 3.4% and values down by 0.8%
Wednesday 7th January 2026 – Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Approvals Report for November 2025. The following are the key elements:
- A total of 4,251 mortgages were approved in November 2025 – first-time buyers (FTBs) were approved for 2,512 mortgages (59.1% of total volume) while mover purchasers accounted for 863 (20.3%).
- The number of mortgages approved fell by 11.1% month-on-month and fell by 3.4% compared with the same period last year.
- Mortgages approved in November were valued at €1,354 million – of which FTBs accounted for €822 million (60.7%) and mover purchasers for €323 million (23.8%).
- The value of mortgage approvals fell by 12.3% month-on-month and by 0.8% year-on-year.
- Re-mortgage/switching activity rose by 19.4% in volume terms year-on-year and by 25.0% in value in the same period.
Commenting on the publication of the latest data and reflecting on the figures year to date, Brian Hayes, Chief Executive, BPFI said: “Our latest report reveals that there were 4,251 mortgage approvals in November 2025 with overall values at almost €1.4 billion (€1,354 million). This represented a slight decline in activity, with approval volumes down by 3.4% compared with November 2024 and values down by 0.8%. The most notable slowdown was observed in home purchase mortgage approvals, including those for first-time buyers and mover purchasers, which experienced an overall reduction of 6.8% in volume and 3.5% in value year-on-year."
“However, looking more broadly at the eleven-month period to the end of November 2025, there were 49,760 mortgage approvals, amounting to €15.8 billion. FTB approvals reached their highest activity levels since the data began in 2011 over the same period, with over 30,000 (30,124) approvals valued at almost €10 billion (€9,796 million). This was more than four times the value of mortgage approvals in the same period of 2015 (€2,432 million).”
He continued: “By contrast, mover purchase approval volumes dropped to 9,634 in the first eleven months of 2025, the lowest year-to-date level since 2015. Nevertheless, values rose to more than €3.6 billion over the same period, the highest year-to-date values since the data series began.”
Looking at mortgage switching activity, Mr Hayes added: “Meanwhile, mortgage switching activity continued to grow with more than 5,900 (5,918) switcher approvals valued at over €1.7 billion (€1,721 million) in the first eleven months of 2025. This represents an increase of 35.7% in volume and 55.1% in value on the same period of 2024, and the highest year-to-date activity levels since 2022.”
- The BPFI Mortgage Approvals Report November 2025 is available here.
- The BPFI Mortgage Approvals report data series since January 2011 is available to download here.
