CML annual member review 2014
- 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.