More mortgages granted but workers in Covid-hit sectors struggle to be approved sundayworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sundayworld.com Daily Mail and Mail on Sunday newspapers.
The number of mortgages approved was up 24pc on the same month last year. It was down by 0.2pc on the October figure. October was the busiest month for mortgage approvals since the banking federation began recording approval activity in 2011.
Mortgages approved last month were valued at €1.281bn. Some €692m of this was accounted for by first-time buyers, with mover purchasers for approved for borrowing worth €388m.
The overall value of mortgage approvals in November was up by a third in the year.
Approval values are the highest since the Banking and Payments Federation Ireland started collecting this data nine years ago.
Mortgage approval values at highest level since 2011
Updated / Tuesday, 22 Dec 2020
08:46
Mortgage approval values are at their highest level since BPFI began collating this data in 2011
New figures show that the number of mortgages approved fell by 0.2% in November on a monthly basis, while they rose by 24.3% compared with the same time last year.
Banking & Payments Federation Ireland said that a total of 5,198 mortgages were approved in November.
First-time buyers (FTBs) were approved for 54.4% of the total volume of these new mortgages while mover purchasers accounted for 26.4%.
Today s figures also reveal that mortgages approved in November were valued at €1.281 billion. First-time buyers accounted for €692m of these home loans and mover purchasers for €388m.
Business Editor
The Department of Finance has said that some banks and businesses may not be fully ready to implement new security rules for electronic payments that come into effect from 1 January.
The Labour Party has called on the main banks and Central Bank to clarify whether the situation means some customers could potentially face disruption when paying for things online if their systems are not compliant after the date.
Under the EU s revised Payment Service Directive introduced in 2015, Payment Service Providers (PSPs) are required to introduce strong security requirements for the initiation and processing of electronic payments.
Strong Customer Authentication (SCA) aims to reduce the risk of fraud for all electronic payments, particularly those online.
Ireland is 8th largest exporter of financial services in the world
Written by Robert McHugh, on 18th Dec 2020. Posted in Ireland
A new report into Ireland’s international banking sector shows that Ireland is now the eighth largest exporter of financial services in the world and is the fifth largest exporter of financial services in Europe.
Its contribution to Ireland’s corporate tax receipts has also jumped significantly with financial corporations alone, accounting for almost a quarter of Ireland’s corporation tax in 2019.
The report, which examines the contribution of the international banking community to the Irish economy, has been published by Banking & Payments Federation Ireland (BPFI) in conjunction with its affiliate the Federation of International Banks in Ireland (FIBI).