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

Clarity on energy efficiency rules for commercial property needed

Propertymark has written to Martin McCluskey MP, Minister for Energy Consumers at the Department for Energy Security and Net Zero, urging the UK Government to provide urgent clarity on the future of Minimum Energy Efficiency Standards (MEES) for non-domestic property. The letter follows the publication of the UK Government’s Warm Homes Plan, which confirmed that…
Read More →
Breaking News

English Housing Survey 2024 to 2025

English Housing Survey 2024 to 2025: headline findings on housing quality and energy efficiency The latest findings from the English Housing Survey on housing quality and energy efficiency. This is the second release of data from the 2024-25 survey. This report will be followed by a series of more detailed topic reports in the spring…
Read More →
Breaking News

Propertymark responds to latest HMRC property transactions report

Nathan Emerson, CEO at Propertymark, comments: “Based on December 2025’s figures, it is encouraging to see that property transactions remained stable following the Autumn Budget. At a time when many households were concerned about rising living costs, this stability suggests that the Budget provided enough clarity for people to continue progressing with plans to buy…
Read More →
Breaking News

Mortgage activity dips in December

Property industry reaction to the latest mortgage approval data from the Bank of England. The latest figures show that: – Mortgage approvals on house purchases for December sat at 61,013 down (-4.8%) from 64,072 in November. Approvals are down (-8.4%) when compared to the 66,634 seen in December 2024. This decline was expected due to…
Read More →
Breaking News

£19.9bn of PRS refurbishment required

£19.9bn of refurbishment investment required to bring England’s private rented homes up to EPC C by 2030 Jonathan Samuels, CEO of Octane Capital, believes that despite the Government extending the deadline for all private rental stock to meet an EPC C rating from 2028 to 2030, refurbishment finance will remain key in helping landlords meet…
Read More →
Home and Living

10 budget patio ideas for beginners in landscaping

Creating an inviting outdoor space doesn’t have to break the bank. With a bit of creativity and some elbow grease, you can transform your backyard into a relaxing retreat. Whether you’re looking to build a brand-new area or revamp an existing one, these budget-friendly patio ideas will inspire you to create a stylish and functional…
Read More →