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.

Here you will find our latest articles, market commentary, and opinion pieces, most recent first.  

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Housing market recovery: how does the UK compare to the US?

News

5 May 2011

House prices in the USA fell for the eighth month in a row, according to data from the latest Case-Shiller index published in April. After recovering briefly from a low point two years ago, the US 20-city composite index has now returned to within a whisker of the value recorded in the housing market trough of April 2009.

Lenders call for long-term insurance guarantee

News

5 May 2011

We welcome confirmation that solicitors' minimum insurance terms and conditions will continue to protect the work they do for lenders – for now. But we are urging the Solicitors Regulation Authority (SRA) to remove longer term uncertainty by concluding that cover for lenders should remain integral to solicitors’ standard insurance arrangements.

Weak growth could keep rates on hold this year

News

5 May 2011

Today’s decision by the Bank of England’s monetary policy committee to hold base rate at 0.5% reinforces our view that tightening is some way off.

CML responds to Treasury on regulation

News

12 April 2011

Our response to the Treasury’s consultation on its document, A new approach to financial regulation: building a stronger system, supports the view that financial stability should be a fundamental objective, but argues that regulators must be alert to the consequences for competition, as well as cross-market, cross-border and socio-economic, issues.

CML supports bid to raise conveyancing standards

News

12 April 2011

The CML is backing the Law Society's attempts to raise standards in the industry by introducing the new conveyancing quality scheme (CQS).

Not one, nor two - it's now three separate regulatory initiatives for UK lenders!

News

12 April 2011

Ever since it became clear that the European Commission (EC) would press ahead with plans for a directive on mortgages, we have been working to try to avoid potential conflicts between separate initiatives to reform regulation in the UK and Europe. Now, however, a third regulatory threat is emerging.

First-time buyer help is welcome but won't kick-start the housing market

News

30 March 2011

For lenders and borrowers, the headline-grabbing measure in the recent Budget was the chancellor’s modest, but unexpected, funding for first-time buyers. But there were other initiatives in the chancellor’s announcement – albeit of a more technical nature – which could have a far more profound effect on mortgage and housing markets. Today, we assess the Budget measures and give our reaction to them.

FSA plan includes welcome changes to MMR

News

30 March 2011

Publication by the Financial Services Authority (FSA) of its business plan for the coming year confirmed some welcome changes in response to representations on the direction of the ongoing mortgage market review (MMR).

New Scottish chairman commends lenders on handling payment problems

News

30 March 2011

The general manager of the Scottish Building Society, Jim Dunn, has become chairman of CML Scotland in succession to Douglas Cochrane, of Lloyds Banking Group.

Remortgaging ticks up, but forecasts remain unchanged

News

30 March 2011

Gross mortgage lending barely changed in February, according to our data – up less than 1% on January’s total, at £9.5 billion.