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 for wider content and updates from UK Finance.

Photo of asbestos warning sign

If the property contains asbestos or other hazardous materials, lenders will generally want assurance that the material does not pose a health threat (this is generally the case with asbestos in good condition), which may require additional specialist reports.

If the material does pose a threat, then the lender may require remedial treatment and may make its lending conditional on this. If there is a perception that the value of the property is affected by the hazardous material, lenders may reduce the amount they would otherwise be willing to lend.

There will usually be other conditions that make it a requirement for any future buyers or contractors working on the property to be made aware of the fact that a hazardous material is present.