Mortgage products
The following issue updates are available for Mortgage products.
Adverse credit mortgages (also known as sub prime or non-conforming mortgages)
4 February 2010 | What is an adverse credit mortgage? Where can you find more information? This page also includes the results of the FSA thematic inspection from July 2007.
APR calculations
9 July 2009 | Explains what the Annual Percentage Rate of Charge (APR) is and how it is calculated.
CAT standards
9 July 2009 | An explanation of "CAT" standards and what the standard is for mortgage products.
Citizens Advice Bureau report: Set up to fail - CAB clients' experience of mortgage and secured loan arrears problems
2 February 2010 | The Citizens Advice Bureau (CAB)has published its report "Set up to fail - CAB clients' experience of mortgage and secured loan arrears problems". This page sets out our views on that report.
CML Cymru: developments in retail policy and lending
10 June 2009 | This page provides an update on developments in retail policy and lending issues in Wales and the work of the CML Cmyru.
Codes and Statements of Practice
9 July 2009 | This page provides information about a number of Codes and Statements of Practice which CML members have historically been asked to comply with.
Consumer credit - draft directive
5 November 2009 | This paper provides an overview of the legislative process and key implications for mortgage lenders of the directive on consumer credit, which was published in the Official Journal on 22 May 2008.
Consumer Credit Act; OFT consultation on guidance for second charge lending
1 December 2009 | The OFT has published a consultation on guidance for brokers and lenders on second charge lending. The closing date for responses is 8 May 2009.
Credit reference agency searches
9 July 2009 | This web page provides guidance on the use of searches and leaving "footprints" on consumers' credit files.
Developments in private rented sector policy
14 August 2009 | This document provides an update on issues relating to the Rugg review, the government response to the review and other recent government announcements on the private rented sector.
Endowment mortgages
9 July 2009 | This page explains the background to endowment complaints, including the ABI's Code of Practice, and summarises recent developments. The most recent update summarised the data for Q2 2008 on endowment complaints.
Equity release
9 July 2009 | This provides an overview of the current position on equity release, including an update on the FSA work on good practices in the lifetime mortgage market.
Freedom of Information Act 2000
9 July 2009 | This page reports two decisions, both relating to the Financial Services Authority, made by the Information Commissioner under the Freedom of Information Act. The most recent update relates to the first of a series of judgments expected.
FSA buy-to-let thematic review
1 December 2009 | The FSA has shared with lenders a summary of the findings of its thematic review of buy-to-let lending.
FSA's comparative information tables
1 December 2009 | This page gives information about the FSA's comparative tables.
Green mortgages
9 July 2009 | This page provides some background information on green mortgages.
Housing benefit reform: recent developments
6 January 2009 | This paper provides an overview of the government reforms to the calculation and payment of housing benefit in the private rented sector. It also addresses the issues that the reforms pose in the social rented sector for lenders involved in funding housing associations.
Islamic home finance
8 February 2010 | Background on Islamic home finance and an overview of the issues.
Lifetime mortgages - FSA capital requirement under the standardised approach
1 February 2008 | This paper outlines the FSA's guidance on how to calculate the capital requirement for lifetime mortgages under the standardised approach of Basel 2, confirming the treatment agreed with industry over the summer.
Mortgage market review
29 January 2010 | The CML has now issued its response to the FSA's Mortgage Market Review (MMR) Discussion Paper. We will be working with our MMR steering group, comprising lender firms, to help develop our response to the approved persons section of the FSA's consultation launched on 26 January.
Payment protection insurance (PPI)
9 March 2010 | This page has been updated to alert members to the FSA's feedback statement and further six-week consultation on PPI complaints handling, published on 9 March. This is a follow up to the FSA consultation of September 2009.
Policy and market developments in Northern Ireland
1 December 2009 | This page provides updates on significant developments in Northern Ireland, including the launch of the Commission for the Future of Housing in Northern Ireland.
Private landlords in Scotland - regulation
23 December 2009 | This policy issue deals with a registration scheme for private landlords which was introduced in Scotland on 30 April 2006. It has implications for landlords, tenants and lenders.
Shortfalls on interest-only mortgages
9 July 2009 | On 19 May 2006, the FSA published its consumer fact sheet "Will your investment or savings plan pay off your mortgage?". The fact sheet provides information to consumers facing a shortfall at the end of the mortgage term.
Tenancy deposit protection
1 December 2009 | This provides an overview of the schemes for tenancy deposit protection introduced on 6 April 2007.
The position of tenants when a landlord defaults on their mortgage
29 January 2010 | This page summarises the issues surrounding enforcement action by lenders when a property is tenanted. A private members bill has been introduced on this issue.
