Gross mortgage lending reached £20.1 billion in May estimates the CML
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.
You May Also Enjoy
Applicant budgets remain stable and rental prices in line with historic norms
The Impact of Increasing Lease Conversions on Estate Agents in 2026
First-time buyers help drive the most home moves for three years
Mortgage Lending Statistics – December 2025
Bank of England interest rates decision – Thoughts from the Industry
