From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to for wider content and updates from UK Finance.

  1. Home
  2. News
  3. Press releases
  4. Gross mortgage lending up 15% in June

Gross mortgage lending up 15% in June

Published: 20 July 2010

Gross mortgage lending in June was an estimated £13.1 billion, a 15% increase from £11.4 billion in May and a 7% increase from £12.2 billion in June last year, according to new data from the Council of Mortgage Lenders.

Gross lending in the second quarter of 2010 was an estimated £35 billion, up 17% from the first quarter of this year (£30 billion) and up 7% from the second quarter of 2009 (£32.7 billion). Lending in the first half of 2010 remained unchanged from the first half of 2009 (£65 billion).

In today’s market commentary, CML economist Paul Samter commented:

“Our gross lending estimate of £13.1 billion in June represents a seasonal pick-up and is higher than June last year, but is still indicative of low levels of activity.

“There are signs of house prices stabilising and more properties coming onto the market following the abolition of home information packs. This may improve liquidity in the market, but transaction levels are subdued and likely to remain so while access to credit remains constrained.

“The FSA has outlined a clear direction of travel as part of its mortgage market review. The consultation paper on responsible lending increases the regulatory burden on lenders and could make it harder for borrowers to access credit.”

Notes to editors

1. The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 94% of all residential mortgage lending in the UK. There are 11.4 million mortgages in the UK, with loans worth over £1.2 trillion.

2. The Council of Mortgage Lenders does not publish statistics for mortgage approvals. The data in our monthly Regulated Mortgage Survey and gross lending press releases relate to mortgage advances only. A mortgage approval is the firm offer to a customer of a specific amount of credit secured against a particular property. A mortgage advance is the total amount of loan actually provided to the buyer, by the lender.

3.  The July gross lending press release and market commentary will be published on 19 August 2010.

Contact us

Jayne Chichester

020 7438 8922

Bernard Clarke

020 7438 8923

Sue Anderson

020 7438 8924