The Council of Mortgage Lenders estimates that gross mortgage lending reached £19.9 billion in December 2015. This is 3% lower than November, but 23% higher than December 2014. The estimated total for the year comes in at £220.3 billion, an 8% increase on 2014’s £203.3 billion.
Gross mortgage lending for Q4 2015 was an estimated £62.3 billion - a 1% increase on Q3 and a 23% increase on Q4 of 2014.
Commenting on market conditions, CML economist Mohammad Jamei confirms that lending was slightly higher than anticipated in the year but that there is still uncertainty surrounding the impact of tax changes on the buy-to-let sector.