Davy Research

UK Economy

Council of Mortgage Lenders revises down projections for UK mortgage market

DAVY VIEW

Yesterday (December 15th), the Council of Mortgage Lenders (CML) revised down its projections for UK mortgage lending in 2017 by 5% to £248bn. This represents marginal growth from the £246bn of lending expected in 2017. Although the CML does not expect UK house prices to fall, it does expect the recent post-Brexit weakness in transaction volumes to persist. Hence, the CML has revised down its forecast for UK residential transaction volumes by 7% in 2017.

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