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.

Please note this page is no longer being updated. Please go to the news area on the UK Finance website for the latest mortgage industry news. 

To continue to receive the latest industry news, please subscribe to UK Finance alerts on the UK Finance website. 

Slow economic growth keeps lending in check

News

27 July 2011

Slow economic growth, confirmed by the announcement that UK gross domestic product grew by only 0.2% in the second quarter of 2011, is continuing to bear down on mortgage borrowing.

The highs, the lows - and why I'm stepping down

News

27 July 2011

It is said that 'an Englishman’s home is his castle', and the dream of owning one's own home has been at the centre of consumer aspiration from the early days of building societies in the 19th century. As I look forward to the end of my career at the Council of Mortgage Lenders later this week, I want to reflect in this article on some of the highs and lows, particularly in my period as director general of the CML, which has spanned an economic cycle – the last 14 years.

Lenders welcome Scottish announcement on mortgage indemnity

News

12 July 2011

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

Lending remains stable, but funding markets improve

News

12 July 2011

Lending both for house purchase and remortgaging eased upwards in May, with the market showing further signs of stabilising.

'Mates' mortgages: why borrowers and lenders are cautious

News

12 July 2011

Much of the press coverage of the latest first-time buyer summit earlier this month focused on the housing minister’s call for more widespread availability of "mates mortgages" to help address affordability problems.

Survey highlights strength of desire for home-ownership

News

12 July 2011

Newly published data from the English Housing Survey (EHS) shows a sharp rise in the number of people renting privately in the last five years. After a century of almost constant decline, the number of people renting from private landlords has increased by 40% since 2005. Between then and 2009-10, the number of people renting privately rose by one million to 3.4 million.

Help for borrowers must balance the interests of firms and consumers

News

29 June 2011

The help that lenders offer borrowers when they go through a period of financial difficulty must work in the interests of both the firm and the consumer. This fundamental principle is at the heart of our response to a consultation by the Financial Services Authority (FSA) on provisions for extending forbearance in dealing with mortgage arrears.

Lenders consult on separate representation by conveyancers

News

29 June 2011

The CML is now consulting with members and others on a draft set of instructions for conveyancers representing the lender - but not the borrower - in house purchase transactions.

Lenders must be vigilant on fraud, FSA warns

News

29 June 2011

Lenders have made good progress in getting to grips with mortgage fraud, according to the Financial Services Authority (FSA). The ability of firms to protect themselves from criminal activity has improved, and lenders have developed a better understanding of the benefits of co-operating with each other – and with other professions working in housing and mortgage markets – to deter and detect fraud.

Paul Smee to become new CML director general

News

29 June 2011

The CML has announced the appointment of Paul Smee as its incoming director general. He will take up his appointment on 1 August, in succession to Michael Coogan

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