CML news & views

Issue no. 11 - 17 June 2008

Our initiative to make valuation of newly-built property more robust and reliable has been called "an excellent example of cross-industry co-operation delivering a solution to one of the issues the whole industry has been grappling with."

In this issue

Industry supports CML's "collaborative approach"
Affordability: getting better or worse?
Labour MP backs lenders on need for reform
CML gains new member and associate

Industry supports CML's "collaborative approach"

We have led the drive to make valuation of newly-built property more robust and reliable. We are planning to tighten the rules on the disclosure of discounts and incentives for buyers - and builders, developers, surveyors and lenders are backing our collaborative initiative.

Affordability: getting better or worse?

Our monthly lending data is beginning to show more clearly some of the consequences of the credit crunch. On the face of it, mortgage affordability for home-buyers has been improving. But what the numbers really show is that lenders are taking a more cautious approach to risk.

Labour MP backs lenders on need for reform

Labour MP Sally Keeble pressed the chancellor to reform state support for home-owners in difficulty along the lines advocated by lenders. At a Treasury select committee hearing earlier this month, she criticised the current system, which remains strongly biased against home-owners and in favour of tenants. The chancellor, however, said he had no immediate plans for reforms.

CML gains new member and associate

JPMorgan Chase Bank NA has become a full member of the CML, and London General Insurance has joined as an associate. There are now 158 members and 88 associates.