Gross mortgage lending increases

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

Marketing

How to Generate more Estate Agency Property Leads

There is said to be over 50,000 estate / letting / auction agents across the UK, a figure that has remained relatively steady over the last few years. With over 7,000 in London alone, the industry of selling and renting property is undoubtedly well serviced with no shortage of options for consumers to chose from.…
Read More
Breaking News

UK’s Housing Crisis Deepens as 1.4 Million Homes Sit Unbuilt

Cornerstone Tax reveals that 19% of tenants have been forced to move five times in less than five years due to landlords exiting the market David Hannah, Group Chairman of Cornerstone Tax, urges the government to focus on addressing the wider housing affordability crisis by incentivising landlords The government’s plan to develop 12 new towns…
Read More
Rightmove logo
Breaking News

Rightmove House Price Index: Price growth slows as stamp duty deadline looms, but activity remains robust

The average price of property coming to market for sale rises by 0.5% (+£1,805) this month to £367,994, a muted price rise for this time of year as new sellers lower price expectations, due to the looming stamp duty deadline and high competition: The number of available homes for sale is at a 10-year high,…
Read More
Marketing

Attracting the Right Buyers: Digital Strategies for Real Estate Agencies

Okay, let’s talk approximately how real property companies have promoted houses in recent times. It’s not as adored as it used to be! They cannot just place up a signal and expect human beings to be exposed. We stay in a virtual world, and that means they want to use smart online strategies to locate…
Read More
Breaking News

Rise in no fault evictions

No fault evictions have risen according to the latest data published by the Ministry of Justice. Property disputes lawyer says “some landlords are unwilling to wait for the new Renters’ Rights legislation and are choosing to leave the market” Landlords can apply for an accelerated possession order if the tenants have not left by the…
Read More
Love or Hate Rightmove
Breaking News

Rightmove Weekly Mortgage Rates – 14/02/25

Rightmove’s mortgage expert Matt Smith says: “It’s another week of average rate drops, and the response from the market since the Bank Rate cut has been positive. We hope to now see a sustained period of mortgage rates trickling downwards to lead us through the Spring selling season.” On the first sub-4% mortgage rate Matt says: “The…
Read More