From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

We recognise that it can be very difficult to make informed choices when deciding on which mortgage to choose, particularly regarding the complexity and range of fees and charges that accompany the mortgage.

With this in mind, the Council of Mortgage Lenders has worked in collaboration with Which? to produce a standardised tariff of mortgage charges, in order to:

  • make mortgage price comparisons easier for consumers
  • to make the full cost of a mortgage clearer for consumers
  • to ensure that additional mortgage fees and charges are cost effective

The aim of the initiative has been to give customers access to information at an earlier stage, when they are shopping around for a mortgage, rather than at the offer stage and with their annual statement, as has previously been the case.

Lenders have agreed to make the tariff of mortgage charges available to customers who enquire about a particular mortgage when shopping around, but who have not yet received a mortgage offer.

Lenders signing up to the project have agreed to adopt a common name for the tariff – the [Lender name] tariff of mortgage charges and have committed to publish the tariff by the end of 2015, showing the common fees that they charge, as well as any others that they specifically charge.

Over the longer term, we would like to see the work we have started here produce lasting and meaningful benefits for consumers. 

To do this, we will keep under review areas where we think we can supplement regulation to make fees and charges more transparent for consumers.

View the tariff of mortgage charges

Final report of the transparency review of mortgage fees and charges