Gross annual bridging lending hits £3.6bn

The Council of Mortgage Lenders estimates that gross mortgage lending reached £19.9bn in December. That's is 3% lower than November's £20.5bn, but 23% higher than December 2014's £16.2 bn.

Greater choice and increasingly competitive rates drove a chunky 16.9% hike in the number of borrowers taking out bridging loans in Q2, according to the Association of Short Term Lenders.

Last week's Council of Mortgage Lenders numbers (reported here) show that gross mortgage lending for the UK is, overall, on the rise.