An increase in gross mortgage lending of 12% for 2016 on previous year

January 27, 2017

The Council of Mortgage Lenders (CML) yesterday reported  in a press release that they estimated that gross mortgage lending reached £20.4 billion in December.

The CML mentions that the estimated gross mortgage lending total for the year 2016  is £246 billion, a 12% increase on the previous year of £220 billion and the highest annual gross lending figure since 2008.

CML senior economist Mohammad Jamei said: “The UK housing market, much like the wider UK economy, ended 2016 on a generally positive note.

“Approvals for house purchase have recovered strongly of late, and this should feed through to lending figures in the early months of 2017. The current availability of mortgage credit is benign, and the real issue continues to be a dearth of properties on the market, which adds to the challenges facing would-be buyers.

“Uncertainty associated with political factors and prospective changes to the tax treatment of landlords will weigh on prospects for the year ahead.”

Read the CML press release 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

buying at auction uk
Breaking News

Most active property markets in 2025 revealed

Scotland and Yorkshire home to UK’s most active property markets in 2025 The latest research from The Property DriveBuy reveals that Scotland and Yorkshire have been home to the UK’s most active housing markets in 2025, with Birmingham, Somerset, Cornwall and Buckinghamshire also ranking within the top 10. The Property DriveBuy has analysed the latest…
Read More →
Estate Agent Talk

The Renters’ Rights Act: turning change into advantage

The private rental sector is entering a period of unprecedented change. For estate agents, the Renters’ Rights Act 2025 taking effect from May is not just another piece of legislation – it will reshape how you advise landlords, manage tenancies and maintain compliance. Mustafa Sidki of the real estate team at Thackray Williams explains how…
Read More →
Christmas Decorations - Good or Bad for Selling
Breaking News

Lower mortgage rates help Santa deliver 600 more toys this Christmas

With Christmas fast approaching, falling mortgage rates could be doing more than easing household finances this festive season. In fact, if Santa himself were to secure a mortgage on the North Pole today, he would be saving more than £2,000 a year on his monthly mortgage repayments compared to taking out the same mortgage at…
Read More →
Christmas Decorations - Good or Bad for Selling
Breaking News

Has your property paid for Christmas this year?

The latest research from Yopa has revealed that, despite a quieter year for the UK property market, the vast majority of homeowners will have effectively seen their property pay for Christmas, based on the increase in the average house price versus the average festive spend. Yopa analysed house price growth since the start of the…
Read More →
Breaking News

Applicant budgets remain stable and rental prices in line with historic norms

Ratio of new renters per instruction rose by 5.1% from 8.9 to 9.4 applications per instruction. Average rental prices declined by 4% in November 2025, remaining closely aligned with November levels observed over the past four years. Year-to-date, average rental prices are 2% higher in 2025 compared to 2024.   New data from Foxtons, London’s…
Read More →
Estate Agent Talk

The Impact of Increasing Lease Conversions on Estate Agents in 2026

2026 is shaping up to be a watershed year for the property market. Economic pressures, shifting demand and regulatory changes are converging to create a surge in lease conversion applications. For estate agents, this “perfect storm” will reshape the portfolios they manage and redefine their role in advising landlords. Mustafa Sidki of the construction team…
Read More →