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.

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Lenders welcome Scottish announcement on mortgage indemnity

News

Published: 12 July 2011 | Author: Bernard Clarke

We welcomed the Scottish government's recent decision to commit funds to developing a mortgage indemnity scheme for newly built properties in Scotland.

With conditions in housing and mortgage markets remaining subdued in all parts of the UK, it is encouraging to see support for innovative ideas seeking to meet the aspirations of potential home-owners.

We now look forward to working with Homes for Scotland and its advisers on the details of the scheme. While much work still needs to be done in developing the proposals, the recent announcement is a promising step.

We are now seeking to make progress on a similar scheme for England and Wales, with developers and lenders working on proposals for a joint initiative.