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

Love or Hate Rightmove
Breaking News

Rightmove & Nationwide launch global-first property lending check

The UK’s largest property platform Rightmove, & the UK’s largest Building Society Nationwide have launched a global-first real-time digital feature, which helps potential home-buyers understand if a specific property they want to view is likely to be eligible for mortgage lending. With the new digital ‘property lending check’, homebuyers can for the first time receive…
Read More →
Home and Living

Restoring the Past: How to Expertly Repair Wooden Windows with PM Windows Ltd

Why Wooden Windows Deserve a Second Life Wooden windows are a hallmark of classic British architecture, offering timeless beauty, warmth, and craftsmanship rarely matched by modern alternatives. Whether adorning a Georgian townhouse or a Victorian terrace, their charm lies in both their aesthetics and their heritage value. However, timber windows are not immune to the…
Read More →
Breaking News

Slight rise in house prices as market maintains strength

Halifax House Price Index • House prices increased by +0.3% in April vs -0.5% in March • Average property price now £297,781 compared to £296,899 in previous month • Annual rate of growth at +3.2% up from +2.9% in March • House prices remarkably stable over last six months, down by just £48 • Northern…
Read More →
bank of england interest rate
Breaking News

Industry Reacts to Bank Rate Cut

Nathan Emerson, CEO of Propertymark: “Today’s news will no doubt be extremely welcome for many, especially given current economic uncertainties. International bodies have recently stated they expect interest rates to fall in the UK as the year progresses. Overall, we hope to see interest rates further continue their downward trajectory over the course of 2025. …
Read More →
Rightmove logo
Breaking News

Rightmove reaction to Bank Rate cut

Matt Smith, Rightmove’s mortgage expert says: “The much-anticipated second rate cut of the year has arrived, and with some lenders having taken their time to pass on the benefits of the expected Bank Rate cut, I think we may now see further reductions in the coming days and weeks. A fresh round of mortgage rate…
Read More →
Breaking News

Zoopla crowns Glenrothes the most popular affordable town for families as one in three fear being priced out of their ideal area

New Zoopla research pinpoints Glenrothes in Scotland, with an average three-bedroom home value of £136,900, as the most attractive option for families seeking affordability All of the towns in the top ten are located in Scotland and Wales, apart from Dartford and Swanley in the South East Three-bed homes in the most popular affordable towns…
Read More →