“Today’s estimate confirms the view that 2015 turned the tables on 2014, with a subdued start followed by a spurt of lending activity during the second half of the year. It meant that 2015 was a mirror image of the previous year, and leaves us with a sense of momentum that bodes well for the prospects of growth continuing.
“Annual growth of 8% compares with 14% from 2013-14 and suggests the market recovery has now settled into a more stable trajectory. Lenders and brokers could be forgiven for feeling they have been buffeted by significant regulatory and political headwinds during this period. Despite the task of implementing the Mortgage Credit Directive and adjusting to changes in the buy-to-let sector, we can take heart from the fact that the mortgage industry has proved highly adaptable and remained open for business.”
For further information please contact:
Maham Uzair / Will Muir, Instinctif Partners
Tel: 0207 427 1422 / 29 / firstname.lastname@example.org
Notes to Editors
The Intermediary Mortgage Lenders Association (IMLA) is the trade association that represents mortgage lenders who lend to UK consumers and businesses via the broker channel. Its membership of 41 banks, building societies and specialist lenders include 16 of the 20 largest UK mortgage lenders (measured by gross lending) and account for about 90% of mortgage lending (89.4% of balances and 90.6% of gross lending).