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Digital Subscriptions > Campbeltown Courier > 03 February 2017 > Gross mortgage lending increases by 12 per cent in 2016

Gross mortgage lending increases by 12 per cent in 2016

The Council of Mortgage Lenders estimates that gross mortgage lending reached £20.4 billion in December. This is four per cent lower than November (£21.2 billion), and four per cent higher than December 2015 (£19.7 billion). This brings the estimated total for the year to £246 billion, a 12 per cent increase on 2015’s £220 billion and the highest annual gross lending figure since 2008.

Gross mortgage lending for the fourth quarter of 2016 was therefore an estimated £62 billion. This is a three per cent decrease on the third quarter and closely matches the 61.8 billion lent in the fourth quarter of 2015.

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