CML says Gross mortgage lending £18.6 billion in August

The CML (Council of Mortgage Lenders) estimates that gross mortgage lending reached £18.6 billion in August. This is 5% lower than July (£19.7 billion) but 13% higher than August last year (£16.4 billion) and the highest lending total for an August since 2008 (£19.3 billion).

CML Gross Mortgage Lending

The CML (Council of Mortgage Lenders) estimates that gross mortgage lending reached £18.6 billion in August.

This is 5% lower than July (£19.7 billion) but 13% higher than August last year (£16.4 billion) and the highest lending total for an August since 2008 (£19.3 billion).

Commenting on market conditions in this month’s Market Commentary, CML chief economist Bob Pannell observes:

“The narrative of recovering house purchase and buy-to-let activity continued through August. However, it is important to be aware that this picture is being flattered by strong seasonal factors through the summer period.

“A gentle slowing of lending activity may now be in prospect, as a result of the continuing impact of tighter lending rules and a softening of the London market.”

Written by Julie Hanson

Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.

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