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

Breaking News

Dangerous Cladding – Questions raised by Remediation Acceleration Plan

The government has published its Remediation Acceleration Plan, and pledges that dangerous cladding will be fixed on all high-rise buildings on Government schemes within the next five years. The plan sets out that by the end of 2029, all buildings over 18 metres tall – defined as high-rise – with unsafe cladding that are on a Government…
Read More →
Estate Agent Talk

Nationwide data showing house prices rose – Thoughts from the Industry

The latest Nationwide data showing house prices rose at much higher pace than expected at 1.2%. Here are some thoughts from the property industry.   Daniel Austin, CEO and co-founder at ASK Partners: “We continue to see a month-on-month rise in house prices, which is hopefully the sign of an upward trend developing for the…
Read More →
Breaking News

Annual house price growth rebounds in November

UK house prices rose 1.2% month on month Annual growth rate rebounded to 3.7%, from 2.4% in October – fastest since November 2022 House prices now just 1% below all-time peak Headlines Nov-24 Oct-24 Monthly Index* 536.6 530.4 Monthly Change* 1.2% 0.1% Annual Change 3.7% 2.4% Average Price (not seasonally adjusted) £268,144 £265,738 * Seasonally…
Read More →
Breaking News

25% house price premium in National Parks

25% premium for a property situated within a National Park 7% premium for a property within 5km of a National Park 15% premium for a property located in an Area of Outstanding Natural Beauty (AONB) Commenting on the figures, Andrew Harvey, Nationwide’s Senior Economist, said: “National Parks continue to be highly desirable areas to live…
Read More →
Commercial Agent Talk

3 Ways to Maximize Efficiency During a Construction Project

Managing a construction project requires serious juggling. You’re handling dangerous machinery, delegating jobs to multiple (sometimes dozens) of workers, and making sure everything you do fits into the approved budget. It’s not a job for someone who can’t work under pressure, but you do it well. Still, there’s always room to grow, and with the…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove’s most viewed homes of the year 2024

New data from the UK’s biggest property website Rightmove reveals the most viewed homes of the year. Rightmove’s property expert, Tim Bannister, said: “From a luxurious former football manager’s residence to a historic Grade I listed Abbey, the most viewed homes of the year reflect the wide-ranging dreams of home-hunters this year across Great Britain. Whether…
Read More →