Mortgage lending in september down on previous month

October 21, 2016

The Council of Mortgage Lenders (CML) yesterday published their market commentary which headlined ‘Gross mortgage lending  £20.5 billion in September’.

In the news release the CML estimates that gross mortgage lending reached £20.5 billion in September. This is 7% lower than August’s lending total of £22.1 billion, and 2% higher than the £20.1 billion lent in September last year.

Commenting on market conditions in this month’s market commentary, CML senior economist Mohammad Jamei said: “Remortgage activity looks set to grow, helped by attractively priced mortgage deals encouraging borrowers to refinance. Prospects for house purchase activity continue to look slightly subdued, when compared to the same period a year ago.

“Despite this, housing market sentiment continued to improve in September, after recovering in August. As a result, we expect a modest rise in approvals, though at levels lower than seen earlier this year, as the lack of properties on the market for sale and affordability constraints continue to bear down on borrowers”.

Read the CML’s most recent market commentary for September 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

Rightmove logo
Breaking News

Buyer demand bounces back after May heatwave

New real-time analysis from the UK’s largest property platform Rightmove reveals that buyer demand has bounced back after a temporary dip due to the May heatwave during the school holidays Starting on May 22nd, buyer demand dropped by 8% over the course of the heatwave week, as potential buyers held off from booking viewings to…
Read More →
Breaking News

Breaking Property News 11/6/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Leasing decisioning platform set to scale with new injection of investment Findigs, the AI-native leasing decisioning platform that helps residential operators across the U.S. improve revenue and grow their bottom line, announced that it closed a $32 million Series C funding round led by…
Read More →
Breaking News

Cost of void periods climbs by as much as 53% for landlords

Landlords face growing pressure on profits as the cost of void periods climbs by as much as 53%.   The latest research by property management specialist, Rushbrook & Rathbone, has found that the average cost to landlords as a result of void periods between tenancies has climbed by as much as 52.9% across some areas…
Read More →
Breaking News

Lack of Supply Keeps Upward Pressure on Rents

More ‘affordable’ areas see rents rise two times faster than the national average    Rents are rising 5% on average in more affordable areas where rents are below £750pcm – over twice the national average of 2.1% Regionally, Carlisle (+9.1%), Kilmarnock (+9%) and Halifax (+6.5%) are among the fastest-rising markets where rents are rising quickly…
Read More →
Rightmove logo
Breaking News

First-time buyer price hotspots revealed

New analysis from the UK’s largest property platform Rightmove, reveals where first-time buyer prices are rising fastest across Great Britain Bridlington in East Riding of Yorkshire (£167,321) and St Helens in Merseyside (£133,106) lead the way, with average asking prices up 18% compared to last year Falkirk (+17% to £118,327) and Hartlepool (+12% to £104,76)…
Read More →
Breaking News

Summer set to bring seasonal spike in homeseller activity

The latest analysis by Foxtons has revealed that while autumn is traditionally the busiest time of year for the property market, summer is the ideal time for homeowners to get their property ready and listed if they want to take advantage of the heightened buyer activity still to come in 2026. Foxtons analysed government property transaction…
Read More →