CML annual member review 2014

Our member review highlights the key challenges and achievements in an eventful year for the mortgage industry.  Download the full report below.

Image of CML member review 2014 front cover

  • The industry successfully implemented the mortgage market review with little impact on lending, which grew by more than 15%.
  • Lending activity was up across the UK – with our data showing growth in Scotland, Wales, Northern Ireland, and London.
  • Small and medium-sized lenders recovered strongly.
  • Despite successful implementation of the MMR, regulatory intervention remained a key issue. 
  • The European credit directive looms on the horizon, and the Financial Policy Committee and Prudential Regulation Authority have enhanced powers to intervene.
  • The industry successfully completed the first stage of a communications strategy targeted at interest-only customers.
  • We also began to prepare for the general election – by publishing our own manifesto for the housing market.

"The year again displayed the mortgage industry’s capacity to adapt…through it all, we’ve been strengthened by the input of members" – Paul Smee, CML director general in his introduction to the Review.

Download the full report below.