April Gross Mortgage Lending less than March.

May 20, 2016

Press release published yesterday by The Council of Mortgage Lenders (CML) headlines “Gross mortgage lending grows 16% year-on-year”.

The Council of Mortgage Lenders  estimates that gross mortgage lending reached £18.5 billion in April. This is 29% lower than March’s lending total of £26.2 billion, but 16% higher than the £16 billion lent in April last year. This is the highest lending total for an April since 2008 (£25.3 billion).

CML economist Mohammad Jamei said: “As we move past the stamp duty change that came into effect at the start of April, we expect to see a quieter second quarter, as some transactions that were due to take place were brought forward to the first quarter of this year. This is likely to mean that over the next few months buy-to-let takes a back seat as lending is driven by first-time buyers, movers and remortgage customers.

“The underlying picture still shows signs of growth, as the market remains underpinned by strong fundamentals such as increasing wages and rising employment. But it is possible that the uncertainty around the upcoming EU referendum in June will weigh on activity in the upcoming months”.

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

Four to five houses is the sweet spot for first-time buyers

House hunting before the stress kicks in Just 20% of us feel excited on a first property viewing, rising to 47% by viewings 4 to 5 There’s a U shape trajectory of excitement when it comes to the viewing process However, there is a gradual rise in stress levels the more properties viewed Overall just…
Read More →
Estate Agents should not all look the same
Letting Agent Talk

Opinion: Why Letting Agents Are The Cape-Wearing Heroes Landlords Need 

By Sally Lawson | Agent Rainmaker Let’s be honest – no landlords signed up to become compliance officers, legal experts, or legislative gurus. They signed up to invest in property. And yet, the weight of the regulatory obligation that’s landed on their shoulders has never been heavier.  And that’s even before the Renters’ Rights Act…
Read More →
Letting Agent Talk

Void periods ease following RRA implementation, but remain higher than a year ago

The latest analysis by property management specialist, Rushbrook & Rathbone, has found that average rental void periods across England have eased since the implementation of the Renters’ Rights Act (RRA) in May, suggesting that landlords are beginning to adapt to the new legislative landscape. The firm believes many are using this period of change as…
Read More →
Estate Agent Talk

76% of Poor Conveyancing Experiences Feature Communication Issues

Konnect You analysis finds that communication issues feature in more than three in four poor conveyancing experiences, with missing updates, slow responses and repeated chasing emerging as common frustrations. Communication problems, including limited updates, delayed responses and repeated chasing, featured in 76% of poor home-mover conveyancing experiences analysed by Konnect You. The findings suggest communication is a major factor in how home movers experience delays.…
Read More →
Breaking News

1 in 8 new-build homes unsold after six months

Developers hold their nerve as one in eight new-build homes remain unsold after six months   Jonathan Samuels, CEO of specialist lender, Octane Capital, believes that developers are increasingly prioritising profitability over speed of sale, with new-build homes spending longer on the market as developers resist unnecessary price reductions and instead look to protect scheme…
Read More →
Breaking News

Rental price and average salary tracker – July 2026

Year-on-year Rental Price Growth Moderates, Yet High Demand and Limited Supply Continue to Push Rents Higher London recorded the strongest monthly rental growth, with average rents rising from £2,385 to £2,484 (+4.2% month-on-month). As a result, the representative annual salary needed to secure the average-priced rental home increased from £70,050 to £74,520 (+6.4% year-on-year). The…
Read More →