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

Autumn Budget 2026: Property industry reaction

Following today’s Autumn Budget, reaction from property industry experts on six key areas for the property market. First-time buyer support: The £4.7bn Your First Home equity loan scheme, supporting 70,000 buyers, alongside the introduction of a new First Time Buyer ISA. Inflation and borrowing costs: The extension of the fuel duty freeze, household energy support…
Read More →
Breaking News

Can you legally BAN Halloween Trick or Treaters?

People who dread the annual knock of trick-or-treaters may have more power to keep Halloween callers away than they realise. As millions of children prepare to take to the streets on October 31, a property law expert has explained what homeowners can do if they do not want strangers walking up their path or knocking…
Read More →
Estate Agent Talk

What the sector need to do differently to give first time buyers a chance

By Peter Hawley, Director, SOWN (part of LRG) The mortgage and property sector needs to stop assuming that younger buyers are either ready to buy outright or not ready at all. For many, the reality is somewhere in between. They may have stable employment, a deposit and a strong desire to own, but still find…
Read More →
Letting Agent Talk

The 50-property tipping point: when landlords need a different approach

By Adam Hills, Client Services Director, LRG Living Markets A sizeable residential property portfolio can create significant opportunities for long-term income and capital growth. But as it expands, so does the complexity of managing it effectively. For landlords with 50 or more properties, the challenge extends well beyond finding tenants or collecting rent to communication,…
Read More →
Estate Agent Talk

Home is where the stress is

Couples find first-time buying more anxiety-inducing than buying solo First-time buying: Anxiety doubles when finding a home with your partner! Stress and anxiety significantly increase when buying a first home with your partner compared to flying solo The likes of searching for a property, applying for mortgages and progressing through the legalities are all significantly…
Read More →
Breaking News

Breaking Property News 28/10/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   If Zoopla is for sale, then so are you Thought leadership by Olivier Jauniaux Founder of NestLink On 14 August, Providence Equity Partners announced it had agreed to acquire Hometrack from ZPG. Bloomberg confirmed the seller the same day. Terms were not disclosed, though Real Deals, citing…
Read More →