Gross lending up year on year.

February 18, 2016

The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £17.9 billion in January. This is 9% lower than December’s lending total of £19.8 billion, but 21% higher than the £14.8 billion lent in January last year.

CML economist Mohammad Jamei reportedly said: “Lending started the year on a positive note. Our monthly estimate is 21% higher than a year ago, with the current growth rate in lending similar to the closing months of 2015.

“UK market fundamentals are helping to underpin this recovery, with real wage growth, an improving labour market, competitive mortgage deals, and government schemes all supporting household demand. We still only see limited upside potential going forwards, as the number of properties for sale on the market remains low and affordability pressures weigh on activity. Upcoming tax changes in the buy-to-let sector are adding an element of uncertainty to the market”.

To read full  report at CML website click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Stay Safe With Aluminum Ladders: 5 Facts About Lightning Attraction

Whether redecorating, putting items away in storage, or cleaning windows, there are many reasons why you may need ladders. They’re likely an item you have tucked away in your garage or, if a contractor, a tool you carry to and from work. Although highly beneficial, it’s essential to use this device correctly. Why? Aluminum is…
Read More →
Letting Agent Talk

Some Instances Where Landlords Are Liable for Slip and Fall Accidents

In bustling urban environments, slip-and-fall accidents can disrupt lives, leading to injuries and legal complexities; landlords are responsible for maintaining safe premises. From icy sidewalks to poorly maintained staircases, instances where landlords may be held accountable for slip and fall accidents are diverse and nuanced. Understanding these scenarios is a matter of legal obligation and…
Read More →
Breaking News

Sales agreed up 12% on last year despite annual mortgage costs 61% higher than 2021

UK house prices broadly static but sales volumes are up 12% year on year UK house price inflation unchanged from last month at -0.2% Almost two thirds (64%) of all homes are in local markets with annual price falls, down from 82% last October with a clear north-south divide emerging. Higher mortgage rates continue to…
Read More →
Estate Agent Talk

Understanding House Value in the UK: A Simple Guide

Everyone talks approximately assets expenses, from the records headlines shouting about the contemporary marketplace traits for your friends debating whether or no longer now is the proper time to shop for or sell. It might possibly appear to be a jumble of numbers and possibilities, but at the heart of it, knowledge house cost isn’t…
Read More →
Estate Agent Talk

What does latent defects insurance cover?

When a building is insured during the construction phase, coverage doesn’t necessarily end once the final brick has been laid. Failures and problems with design and workmanship can go unnoticed for several months or even years, leading to larger issues while someone occupies the building. Fixing such large structural defects can be extremely costly, so…
Read More →
Breaking News

Breaking Property News – 24/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Smart Spaces delivers the world’s first implementation of HID’s mobile credentials in Google Wallet at Workspace Mobile access control integration makes entry to The Light Bulb building effortless for customers London, April 23, 2024 – Smart Spaces announces today that it has partnered with trusted identity provider,…
Read More →