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

Breaking News

Mortgage approvals up in February

The latest mortgage approval data from the Bank of England show that: –   Mortgage approvals on house purchases for February sat at 62,584 up (3.9%) from 60,246 seen in January. Approvals are down (-3.9%) when compared to the 65,114 seen in February 2025. This annual decline was expected due to wider market slowdown and economic…
Read More →
Breaking News

Pain for landlords as buy-to-let borrowing costs soar

Buy-to-let fixed mortgage rates are soaring due to unrest in the Middle East, according to Moneyfactscompare.co.uk. Landlords also face further financial challenges over the next few years, to meet new private rental rules. Average buy-to-let fixed rates over a two- or five-year term have risen since the start of March 2026. The two-year rate is…
Read More →
Breaking News

Breaking Property News 26/3/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Average house prices in England are 7.6 times the median average salary The house-price-to-salary ratios in England continue to see a gradual decline post Covid-19 spike Following today’s release of the ONS Housing Affordability in England and Wales: 2025 data confirming that median average…
Read More →
Breaking News

Households facing £114 council tax increase

The latest research from eXp UK shows that the average household could see their council tax increase by £114 over the next year following increases of up to £986 over the past ten years. At the beginning of April, the majority of local councils are expected to put council tax up by 4.99% – the…
Read More →
Breaking News

UK House Price Index for January 2025

The latest index shows that: The average monthly rate of house price growth in January was -0.3%. Average UK house price annual inflation was 1.3% in the 12 months to January 2025. As a result, the average UK house price currently sits at £268,000.   Here are some thoughts from the Industry.   Damien Jefferies,…
Read More →
Breaking News

Exchange time reaches 135 days

Property transactions slow as exchange time reaches 135 days — up 45% on 2019 The time it takes to exchange contracts has risen to 135 days — 45% longer than in 2019 and 3% higher than last year — despite a drop in property transactions year-on-year, it emerged today. Novus Strategy, the transformation consultancy for…
Read More →