Gross mortgage lending increases

July 22, 2016

The Council of Mortgage Lenders (CML)June gross mortgage lending estimate published yesterday 21st July headlined ‘Gross mortgage lending climbs in June’.

The Council of Mortgage Lenders estimates that gross mortgage lending reached £20.7 billion in June.

CML senior economist Mohammad Jamei said:

“The result of the EU referendum is likely to affect the housing market, but there remains considerable uncertainty. Although mortgage firms have ample lending capacity, activity levels are likely to bear the brunt of any market adjustment over the next six months or so, as buyers and sellers wait to get a clearer idea of where we might be headed.

“But as with the economy, the UK housing market’s starting position is relatively favourable, with transactions having increased by almost 80% from post-crisis lows. Over the next six months, activity is likely to soften modestly, while lending will be driven more by remortgaging and less by house purchases.

“We also expect some form of monetary easing to be undertaken by the Monetary Policy Committee when it meets on 4 August, given the uncertain outlook that has set in after the vote result”.

To read the above CML report 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

UK Construction Sector Activity Remains Stagnant

Glenigan’s data shows construction sector performance is depressed in a tough socio-economic landscape The value of underlying (under £100 million) work starting on-site during the three months to the end of July declined 11% and fell 29% below last year’s levels. Residential construction starts fell sharply, declining 25% against the preceding three months and dropping…
Read More →
Estate Agent Talk

Seven fire safety myths every business should avoid

Fire safety is one of those responsibilities that often doesn’t receive the attention it deserves – until something goes wrong, that is. For many businesses, compliance has fallen into the trap of being a tick-box exercise that’s centred around annual inspections, manual training exercises, and having the right paperwork in place. And although these are…
Read More →
Breaking News

Suzy Lamplugh’s legacy underlines the need to always make lone-worker safety a priority

More than 40 years after estate agent Suzy Lamplugh disappeared while attending a work appointment, her legacy remains a powerful reminder that personal safety must be central to workplace practices. On 28 July 1986, 25-year-old Suzy Lamplugh left her London office for an appointment and never returned. Her disappearance led her parents, Diana and Paul…
Read More →
Breaking News

Prime London sellers return to market

The latest analysis from Beham and Reeves has found that the number of homes listed for sale at £2m or above across Prime Central London increased during the second quarter of 2026, although performance continues to vary considerably between the capital’s most prestigious neighbourhoods.   Benham and Reeves analysed current Prime Central London property listings…
Read More →
Estate Agent Talk

What to know when buying land

The closure of UK Land & Farms (UKLAF) has left a significant gap in the UK’s specialist land market with buyers and sellers now forced to adapt after 18 years of relying on UKLAF as the cornerstone of the industry. As interest in land continues to grow, the company says the closure also serves as…
Read More →
Letting Agent Talk

Tenant demand strong, landlord supply shrinking

New RICS data shows tenant demand at its strongest in over a year – while landlord supply keeps shrinking. That’s not bad luck. It’s a trust problem, and it’s fixable. “These numbers should be good news for landlords. Demand is the strongest it’s been in over a year. Instead, they are deciding to head for…
Read More →