View more on these topics

Gross lending falls year-on-year for second consecutive month

Gross lending fell on an annual basis for the second consecutive month in December.

According to figures published today by the Council of Mortgage Lenders, lending was down 1 per cent year-on-year from £16.7bn to £16.5bn. Lenders advanced the same in December as the month before.

While lending in December was down year-on-year, it reached £205.6bn in 2014, up 17 per cent on 2013’s £176bn, and was the strongest year since 2008.

CML chief economist Bob Pannell says: “Housing market activity has been cooling and house price growth slowing in recent months, but 2014 was still the strongest year for mortgage lending since 2008.”

SPF Private Clients chief executive Mark Harris says: “While we expect the housing market to be more subdued over the next few months, we are still predicting lending in the region of £215bn for the year.” 

Recommended

Leader: Rate war set to continue

A story we published last week caused an obvious division in the industry. We reported fears that the steep slump in oil prices would lead to uncertainty in the money markets, which would result in an increase in swap rates and therefore in fixed-rate mortgages. While some commentators supported the idea of falling oil prices […]

CaptionCompetition_210115

Caption Competition – 21 January 2015

Can you put the boot into your nearest and dearest to win a delicious box of Hotel Chocolat milk chocolates? Submit a witty caption for the photo above and you will be automatically entered into out prize draw. Remember, the funnier it is, the more likely you are to win. What are you waiting for? […]