The Council of Mortgage Lenders (CML) estimates that gross mortgage lending has increased 21% from January last year, up to £17.9 billion.  This is 9% lower than last December, but represents the highest lending total for a January since 2008.

CML’s economist, Mohammed Jamei states that “UK market fundamentals are helping to underpin this recovery, with real wage growth, an improving labour market, competitive mortgage deals, and government schemes all supporting household demand”.