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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CML responds to retail conduct risk outlook

News

15 March 2011

The Financial Services Authority (FSA) has set out what it sees as potential risks for consumers arising from the economic backdrop, pressures on firms and changes to regulation. Its views are detailed in its first-ever Retail Conduct Risk Outlook, published at the end of last month. A similar document highlighting prudential risks for the coming year is due out shortly.

English Housing Survey results continue to challenge tenure assumptions

News

15 March 2011

The total number of home-owning households in England has declined by 300,000, while the number of households renting privately has increased by a million between 2005/6 and 2009/10, according to the newly published headline report of the government’s official 2009/10 English Housing Survey.

FSA confirms continuing fall in repossessions

News

15 March 2011

The Council of Mortgage Lenders welcomes the FSA’s confirmation in its new statistics published today that the number of new possessions in the fourth quarter of 2010 fell by 10% on the previous quarter to 8,246, the lowest figure for three years. FSA data is collected on a different basis to the CML, but the downward trend is consistent with our own data.

Stamp duty: time for a change?

News

15 March 2011

Understandably, the Chancellor of the Exchequer, George Osborne, hopes to position next week’s Budget as focused on promoting enterprise and economic growth. However, the reality is that myriad tax rises and benefit cuts are due to take effect from early April, and public spending cuts will also begin to bite in earnest this year.

Survey shows MPs and lenders agree on home-ownership

News

15 March 2011

MPs’ attitudes to home-ownership and mortgages are broadly sympathetic to the views of lenders, the findings of a new survey show. The survey, undertaken by Populus in February, sought MPs’ views on a range of questions about the mortgage market and how it should be regulated.

Lenders call for review of conveyancing market

News

1 March 2011

Lenders are calling for a fundamental review of the conveyancing market to address the root cause of problems within existing insurance arrangements for solicitors, and an alternative approach to changes proposed by the Solicitors Regulation Authority (SRA).

Lending to niche customers

News

1 March 2011

Innovation remains an important feature of the mortgage market. If we are to get back to a vibrant and sustainable working market, it is not just prime borrowers with perfect credit histories that are going to need mortgages. There are also niche groups of borrowers looking for special products that meet their needs and help them move into home-ownership as their preferred tenure.

2010: The year in numbers

News

15 February 2011

The number of loans for house purchase fell in December by 4% to 39,900, according to data from our regulated mortgage survey, published last week. House purchase lending was also 5% lower by value than in November, at £5.7 billion. And year on year, it was down 37% by volume and 33% by value.

Problems for first-time buyers

News

15 February 2011

First-time buyers (FTBs) have a high political profile, and today we are attending a “summit” called by the housing minister, Grant Shapps, to discuss their plight. Both David Cameron and Grant Shapps have spoken in recent weeks about the difficulties faced by those who many believe should be considered a reasonable risk for a mortgage that would enable them to realise their aspirations to own their first home.

Support needed to keep arrears and possessions in check

News

15 February 2011

Data we published last week showed there were 36,300 cases of mortgage possession in 2010, almost exactly in line with our revised forecast for the year. The total was 24% lower than in the preceding year, and accounted for just 0.3% of all mortgages.