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.

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Gross mortgage lending £19.9 billion in November

Published: 17 December 2015

The Council of Mortgage Lenders estimates that gross mortgage lending reached £19.9 billion in November. This is 9% lower than October’s lending total of £21.9 billion, but 23% higher than the £16.1 billion lent in November last year.

Commenting on market conditions in this month’s market commentary CML economist Mohammad Jamei observes:




Lending is set to finish the year stronger than it started, with the pace of lending recovering over the summer months. As we’ve said for the best part of 2015, lending continues to be supported by strong fundamentals, which are low inflation, strong wage growth, an improving labour market and competitive mortgage deals.

Reflecting this recovery, we estimate lending this year to reach £214 billion, up from our earlier estimate of £209 billion. Looking ahead, upside potential appears limited as a result of affordability pressures and new supply challenges which will continue to weigh on activity.

Today's market commentary contains our mortgage and housing market forecasts for the next two years.

Notes to editors

1. The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 95% of all residential mortgage lending in the UK. There are 11.1 million mortgages in the UK, with loans worth over £1.3 trillion.

2. The Council of Mortgage Lenders does not publish statistics for mortgage approvals. The data in our monthly mortgage lending press release 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 CML's November gross mortgage lending estimate will be published on Thursday 21 January 2016.

4. December market commentary and mortgage and housing market forecasts can be viewed on the CML website under the News & Views - Analysis section.


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