Gross mortgage lending reached £20.1 billion in May estimates the CML

June 23, 2017

In a press release yesterday 22nd June:  The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £20.1 billion in May. This is a 12% increase on both April last month and on May last year, in which £17.9 billion was advanced.

The CML’s buy-to-let forecast for 2017 and 2018 has been revised down from previous expectations at the end of last year. more…

Commenting on market conditions, CML director general Paul Smee said: “Remortgage activity and first-time buyers continue to drive lending this year. Looking ahead, we expect to see this trend continue, but not as strongly, as the factors supporting lending are blunted by less favourable economic conditions.

“Buy-to-let had a weak start to 2017, and the sector’s contribution to overall net mortgage lending has fallen considerably over the last year.

“While falling mortgage interest rates have helped support borrowing, tax and prudential measures are exerting pressure on the buy-to-let market. Following the distortion of the stamp duty change on second properties last year, we expected a slight recovery in lending levels. However, this has not materialised, and we therefore have lowered our forecast for buy-to-let lending this year and next.

“This re-emphasises the case for avoiding further changes to the tax and regulatory framework until the effect of these already in train have been properly assessed.”

Read the 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

Estate Agent Talk

Discover Northern Ireland’s top emerging investment hotspots

Derry/ Londonderry and Fermanagh named Northern Ireland’s top emerging investment hotspots Northern Ireland’s emerging investment hotspots are delivering compelling opportunities for landlords in 2026, with new research from Belfast-based estate agency John Minnis revealing a shift in where investors are finding the strongest returns. Drawing on insights from the latest John Minnis Investment Guide, the…
Read More →
Rightmove logo
Breaking News

First-time buyers pay extra £307m in stamp duty since relief ended

New Rightmove analysis reveals that since the end of the temporary relief measure in April 2025, first-time buyers in England have paid an estimated £307 million extra in stamp duty, averaging £4,618 more per buyer: The total estimated first-time buyer stamp duty bill over the past year was £408 million, versus £101 million the previous year In April 2025 the first-time buyer stamp duty threshold was lowered from £425,000 to £300,000. Before the change 62% of homes for sale were stamp-duty free for first-time buyers and that has…
Read More →
Breaking News

Rental price and average salary tracker – March 2026

Rents Plateau, But UK Market Tells Regional Story Significant comparisons include across Scotland where average agreed rents rose to £1,123, representing a 4.95% increase month and month across the nation. Northern Ireland saw the second largest average monthly rents rise, bringing an increase of 3.99% to an average agreed price of £887 compared to £853…
Read More →
Breaking News

Breaking Property News 9/4/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why Rightmove is making all the wrong moves   In a world reshaped by AI, incumbency is no longer protection. It is exposure. Thought Leadership By Andrew Stanton, CEO Proptech-PR Rightmove has long been the unassailable giant of UK property portals—a category-defining platform that, for years, operated…
Read More →
Breaking News

Six property firms expelled from redress scheme

Six property businesses have been expelled from The Property Ombudsman after failing to pay compensation awards. The expulsions followed a review by the scheme’s independent Compliance Committee, which agreed that each firm should be removed for breaching their membership obligations by not complying with Ombudsman decisions. The Property Ombudsman, which provides impartial dispute resolution for…
Read More →
Home and Living

Best garden renovations to increase property value this spring

With spring fast approaching and warmer weather finally in sight, now is the perfect time to step outside and give your garden the well-deserved TLC and refresh it needs after such a wet and dreary start to the year. Whether it’s refreshing planting beds, updating patio areas or rethinking your layout, investing time into your…
Read More →