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Please note this page is no longer being updated.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. 

Trade bodies speak with single voice on European regulation

News

29 June 2011

The CML has joined four other trade bodies in signing up to a cross-industry briefing paper calling for a principles-based and proportionate approach to the regulation of mortgages in Europe. We favour rules reinforcing the fact that there are responsibilities for both lenders and borrowers.

Scottish lending data show higher remortgaging

News

15 June 2011

The housing market in Scotland in the first quarter of 2011 displayed similar trends to the UK as whole, with house purchase lending in decline but an increase in remortgaging, with borrowers at that stage anticipating a rise in interest rates.

Sunny side up! Leasing the roof for solar panels

News

15 June 2011

We have published new guidance for firms seeking to lease roof space to install solar panels on mortgaged properties. We recognise that borrowers may wish to do this both to improve the environmental performance of their homes and to reduce energy bills. Our new guidance will help ensure that the interests of both householders and lenders are properly protected.

What sort of consumer protection do we need?

News

15 June 2011

On behalf of lenders, we recently affirmed that the industry supports reform to reinforce protection for consumers. In our view, the need for change is accepted, but the key questions are how and when it should be implemented.

CML publishes updated mortgage and housing market forecasts

News

1 June 2011

We publish an updated assessment of prospects for the mortgage and housing markets. For the first time since the downturn, we have extended our forecast horizon beyond the current calendar year to the end of 2012, in the light of a more stable forecasting environment. Our forecasts assume hesitant economic growth for the rest of 2011, as the pace of fiscal tightening intensifies and households suffer an ongoing contraction in real incomes, but a moderately more positive backdrop as we go into next year.

Lenders regret scaling back of mortgage rescue

News

1 June 2011

The CML regrets that lessons learned in the development of the government’s mortgage rescue initiative – some of which were outlined in a recent report by the National Audit Office (NAO) – will not be put into practice permanently in a properly funded and nationally administered scheme.

Treasury supports CML views on Euro mortgage directive

News

1 June 2011

We welcome the Treasury’s decision to support our lobbying on controversial proposals for a European directive on lending and borrowing. In the last week, the Treasury has shared its proposed amendments to the directive, which support our work on behalf of members to persuade the European Parliament to address concerns about the impact of the proposed directive.

Buy-to-let lending remains stable

News

17 May 2011

Buy-to-let lending continued to progress positively within the context of a stable but low-volume market, our latest data showed.

First-timers: a special case - or just another excluded customer group?

News

17 May 2011

What can be done to help more first-time buyers on to the property ladder? Many believe the answer to this question is crucial to unlocking the housing market, and prospects for first-time buyers have been widely debated in recent months. We agree that, as a group of consumers, first-time buyers have not been well served by housing and mortgage markets recently. But it is important to understand clearly why this is so.

Lenders support military covenant housing initiative

News

17 May 2011

Housing minister Grant Shapps has unveiled plans to improve access to privately owned and social housing as part of proposals to reinforce the military covenant between the nation and its armed forces.

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