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

Breaking News

Private rent and house prices, UK: August 2026

Main points Average UK monthly private rent increased by 3.7%, to £1,393, in the 12 months to July 2026 (provisional estimate); this annual growth rate is up from 3.3% in the 12 months to June 2026. Average rents increased to £1,451 (3.8%) in England, £843 (4.5%) in Wales, and £1,016 (1.7%) in Scotland, in the…
Read More →
Breaking News

Scrapping Stamp Duty could unlock 300,000 extra home moves a year

Economic growth in key regions, such as around Cambridge and the ‘tech corridor’ being held back by stagnant housing market. Rathbones argues that a more mobile housing market could help unlock part of the UK’s £5.5 trillion housing wealth.   Reforming Britain’s property tax system could unlock more than 300,000 additional housing transactions each year…
Read More →
new build home fronts
Breaking News

New-build property across Great Britain increased in price

The average house price for a new-build property across Great Britain increased to £501,658 in July 2026. The West Midlands recorded the largest average price increase, with the average new-build house price rising to £418,281 in July 2026. Yorkshire and Humberside recorded the smallest average increase, with the average house price rising to £347,846 in…
Read More →
Breaking News

Where London leavers are paying a premium for green space

New research from UK Property Development (UKPD shows that Essex, Kent and Hertfordshire command the highest green space premiums among London’s commuter counties, with homebuyers paying a premium of up to 15.3% to live within a stone’s throw of public green space.   UKPD has compared the average asking price of properties for sale within…
Read More →
Breaking News

Breaking Property News 18/8/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Removing inefficiency that comes from humans having to understand where every piece of information lives   Thought Leadership by Fredérick Wakim, Founder of ImmoAdmin “For most of the software era, making a property management platform better meant adding something to it. Another dashboard. Another…
Read More →
Breaking News

England tightens planning rules to save local pubs

Turning pubs into housing or offices will be made harder as part of changes to government planning rules in England. Under the updated National Planning Policy Framework (NPPF), anyone seeking to change the use of a beloved local venue must now provide strict proof that the business cannot survive, including evidence that it has been…
Read More →