You are here: Home - Mortgages - Buy To Let - News -

Mortgage lending up 49% year on year

0
Written by:
21/01/2014
Mortgage lending in December increased by 49% year-on-year to reach an estimated £17bn for the month, figures from the Council of Mortgage Lenders have shown.
Mortgage lending up 49% year on year

This matches November’s gross lending total and is the highest for a December since 2007 bringing the estimated total for the year to £177bn, up from £143bn in 2012.

Gross lending for the fourth quarter of 2013 was an estimated £52bn which represented a 5% increase on the third quarter of last year and a 38% increase on the fourth quarter of 2012 (£37bn).

CML chief economist Bob Pannell said: “Short-term growth prospects for the housing market and the wider economy look very positive.

“Mortgage lending was stronger than we expected in the closing months of 2013 but lenders expect little if any boost to borrower demand this quarter.

“While some of these gains reflect government schemes the rationale for the positive narrative is a much broader one reflecting such factors as the improving economy and jobs market, consumer confidence and competitive mortgage deals.”

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
AXA waives annual fees until May 2015 under new pricing structure

AXA has revealed the new pricing structure for its do-it-yourself investment platform, days after the UK's biggest fund broker, Hargreaves...

Close