Unexpected Surge In Mortgage Lending In May

The UK mortgage market has seen an unexpected boost, hitting its highest level in almost five years.

In May mortgage lending stood at £14.7 billion, a 21% increase on April and a 17% increase on May last year, according to figures from the Council of Mortgage Lenders (CML).

It is thought a number of government initatives have helped boost the mortgage lending market.

Some caution has been urged however, as the surge covers just one month and cannot be used to gauge an trend.


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20 June 2011
Mortgage Lending Boosted
Gross mortgage lending totalled an estimated £11.3 billion in May, according to new data from the Council of Mortgage Lenders (CML). This represented a 12% increase from the £10.1 billion lent in April and was 1% higher than in May 2010. Gross mortgage lending includes lending for both house purchase and remortgage.
20 June 2006
May mortgage lending 'second highest on record'
Gross mortgage lending reached £28.7 billion in May - the second-highest monthly figure on record - according to the Council of Mortgage Lenders. Lending was 18% higher than in April and nearly 30% higher than in May last year. The CML said that it was the strongest May figure on record and only 0.5% below the record for a single month - £28.
20 October 2004
Mortgage lending study points to property market slowdown
Mortgage lending has dipped again for the second consecutive month, indicating that the housing market is cooling off. According to the Council of Mortgage Lenders, there was a 4% drop in gross lending between August and September. Last month saw gross lending hit £25.
05 August 2005
Housing market showing ‘modest improvement’
The housing market is showing a “modest improvement,” the Halifax has reported. House prices increased by 0.2% in July, following a similar rise in June, the Halifax reported. However, the annual rate of house price inflation has continued to fall, dropping to 2.3% in July – the lowest rate of growth since April 1996.
22 April 2009
Mortgage Lending Begins To Rise
Gross mortgage lending was an estimated £11.5 billion in March, a 16% rise from £9.9 billion in February but a 52% decline from £24.2 billion in March 2008, according to new data from the Council of Mortgage Lenders (CML).