IMLA comments on gross mortgage lending for December 2015 (CML)

01 February 2016

Peter Williams, Executive Director of IMLA, comments on gross mortgage lending data for December 2015 from CML:

“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.”

– Ends –

For further information please contact:

Maham Uzair / Will Muir, Instinctif Partners
Tel: 0207 427 1422 / 29 /
twc.imla@instinctif.com

NOTES TO EDITORS:

About IMLA

The Intermediary Mortgage Lenders Association (IMLA) is the specialist trade body representing the interests of lenders who market their products primarily through brokers, rather than direct or through a branch network. IMLA provides a unique opportunity for senior industry professionals to meet on a regular basis to discuss key current initiatives and contribute actively through IMLA and other forums, such as the Council of Mortgage Lenders.

IMLA was formed in 1988 as the Association of Mortgage Lenders and was instrumental in the creation of the CML. It changed its name to IMLA in 1995. Subsequently IMLA helped bring the Association of Mortgage Intermediaries (AMI) into being and was instrumental in bringing the mortgage advisers qualification CeMAP to fruition. More information can be viewed at the IMLA website

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