MORTGAGE

Mortgage-approval fall blamed on new rules

There has been a “stark” slowdown in the number of people being approved for mortgages, with Central Bank lending restrictions being blamed.

Figures from the Central Bank show that lending for house purchases declined at an annual rate of 2.6pc last month.A total of 2,130 people were approved for a mortgage for a house purchase in April, down from the figures for the previous month.

The average loan approval amount has aslo decreased- currently €188,900, down from €190,300 in March.