Comment on CML Gross Lending, November 2015
Thu 17 Dec 2015
Peter Rollings, CEO of Marsh & Parsons, comments: "This year wasnt as quick out of the blocks as 2014 in terms of mortgage lending and overall housing market activity, but is now in much finer fettle than we saw 12 months ago. A strengthening economy and favourable lending conditions means that transactions havent tailed off like they did last year, although the seasonal slowdown in December is still to be expected.
"The recent measures announced by the Government to build new homes and offer help to those looking to take their first step on the property ladder are welcome gestures, but it will be some time before this intervention is evident in the various monthly indices. The powers that be also need to be careful of artificially stimulating the market at the bottom end while continuing to penalise those in the upper reaches."
CML Gross Lending, November 2015
- The Council of Mortgage Lenders estimates that gross mortgage lending reached 19.9 billion in November.
- This is 9% lower than Octobers lending total of 21.9 billion, but 23% higher than the 16.1 billion lent in November last year.