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 for wider content and updates from UK Finance.

  1. Home
  2. News
  3. Press releases
  4. Carol Anderson appointed new chair for CML Scotland

Carol Anderson appointed new chair for CML Scotland

Published: 11 March 2016

Carol Anderson, Scotland branch and business banking distribution director at TSB Bank, has been appointed new chair of the Council of Mortgage Lenders in Scotland. She succeeds Linda Docherty, of Clydesdale Bank. Carol's appointment coincides with CML Scotland's annual lunch in Edinburgh where 200 members of the Scottish mortgage market listened to her first public speech as chair, alongside a keynote speech by Moray McDonald, 2015's CML UK chair. 

During her speech Carol thanked Linda for her two years as Scotland chair and vowed to continue to "represent the needs of Scotland lenders to government, the media and to the public."

Carol said:

With a changing of the guard here at CML Scotland, so to speak, I think it is a good time to take stock of our industry. If I was to give my feelings on the current state of the Scottish market in one word, it’d be optimistic.

Mortgage lending continues to rise. Last year, more loans were taken out to purchase a home in Scotland than any year since 2007. First-time buyers were at their highest level since 2007. Home movers also. And, remortgage lending was up to 2011 levels. All the cogs working at a steady rate, with none over-heating the machine.

More broadly, despite a muted global economy recently, Scottish exports have risen 40% since the start of the recession. Foreign investment was at its highest in 2013 since 1996. Outside of London, Scotland has been first or second out of the UK regions for inward investment, with our highest level of US investment in 2014. We are truly in a recovery period in Scotland.

She went on to praise lenders in Scotland for their hard work in successfully implementing the Mortgage Market Review smoothly, mitigating further regulatory tweaks, and making Help to Buy a success that has been targeted towards those it was designed for. But she warned this was no time for complacency and there would be challenges ahead, such as the Mortgage Credit Directive implementation and the new buy-to-let tax changes.

She added: 

We’d have wished the government had waited for the dust to settle before heaping new transaction taxes on top of the landlord tax changes. The CML believes proposals for a 3% Land and Buildings Transaction Tax surcharge on purchase of second properties demands a rethink. Or at least tinkered with so it is not an upfront tax for those with unplanned temporary ownership of two properties. This would be a huge inconvenience to many and we’d urge the government to allow buyers to be allowed to defer the payment of higher LBTT for up to 18 months, to cater for temporary situations. With the changes to the Private Tenancies Bill, further adding a LBTT supplement on top could have a cumulative impact on landlords and the ability of Scottish Government to deliver a fully cross-tenure approach.  

Notes to editors

1. The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 95% of all residential mortgage lending in the UK. There are 11.1 million mortgages in the UK, with loans worth over £1.3 trillion.

2. Carol Anderson's speech at the CML Scotland annual lunch is now available.

3. A photo and biography of CML Scotland chair Carol Anderson is available on request.

Contact us

Gareth Hill

020 7438 8922