CML estimates Gross mortgage lending reached £18.9 billion in January

February 24, 2017

News releases yesterday 23rd February from the Council of Mortgage Lenders (CML) included Market commentary February2017 and press release with their estimate that gross mortgage lending reached £18.9 billion in January, up 2% compared to a year ago.

They stated: First-time buyer numbers continue to recover in 2016, but home mover numbers remain weak. Remortgage activity grew 14% over the course of last year, as competition, along with base rate cut and launch of the Term Funding Scheme, have kept mortgage rates at historic lows.

CML senior economist Mohammad Jamei said: “Overall mortgage lending continues to hold up pretty well, but we seem to have a twin-track market. Weakness in buy-to-let and home movers has been offset by an increase in first-time buyers and remortgage lending.

“A continuing acute shortage of homes being offered for sale is one aspect of a broken housing market, that looks unlikely to resolve in the near term”.

Read both the CML Market commentary February2017 in full click here and CML press release Gross mortgage lending reached £18.9 billion in January in full 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

Coastal and sea front property
Estate Agent Talk

The Biggest Factors that Reduce Property Value

If you are looking to sell your home, or if you own a number of properties, then you’ll want to make sure that your sale price matches your valuation. With that said, there are a number of factors that might affect this. Underpinning Subsidence can be scary if you’re a homeowner. There’s no doubt that…
Read More →
Letting Agent Talk

How to Transition from a Fixed-Term Tenancy to a Periodic Tenancy

Transitioning from a fixed-term tenancy to a periodic tenancy is a common occurrence in the UK rental market. It offers flexibility and convenience for both landlords and tenants by continuing the rental agreement on a rolling basis once the fixed term ends. Whether you’re a landlord managing a property or a tenant seeking clarity, Martin…
Read More →
Breaking News

Housing sales end 2024 on a high, but buyers more cautious about how much to pay for homes as mortgage rates drift higher

Buyers and sellers returned to the market over 2024 building a sales pipeline 30 per cent larger than a year ago with 283,000 homes worth £104bn progressing to a sale in 2025. This is the largest end of year total value for four years. House prices have returned to growth with the average house price…
Read More →
Breaking News

£21 million to live on UK’s most expensive street

· Knightsbridge in London now the priciest UK street · The UK’s 10 most expensive streets all in the capital, with an average price tag of £16.5 million · East Road in Weybridge the most expensive address outside of London · Priciest UK properties are 60 times more than a typical home Lloyds has revealed…
Read More →
Breaking News

Breaking Property News 20/12/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why estate and letting agents must embrace innovative technology in 2025   As we step into 2025, the UK property market continues to shift, and estate agents face mounting pressure to meet the evolving expectations of buyers and sellers. The days when static images sufficed…
Read More →
Breaking News

Breaking Property News 19/12/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   High street Auctions’ initiative launches to revive Britain’s town centres   This month the UK Government rolls out its highly anticipated ‘High Street Auctions’ scheme, a flagship measure of the Levelling Up and Regeneration Act 2023. This initiative grants local authorities the power to take…
Read More →