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.

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CML Cymru chair addresses Wales annual lunch 2016

Published: 11 May 2016

Julie Ann Haines, chair of the Council of Mortgage Lenders Cymru and customer director for Principality Building Society, addressed lenders today expressing the importance of collaboration between lenders, regulator and government in continuing growth in the Welsh housing market. Her keynote speech took place at the CML Cymru annual lunch, sponsored by Principality, in the Principality Stadium, Cardiff which was attended by over 120 participants in the Welsh mortgage market.

In her speech, she reflected on her time representing lenders over the past twelve months and her priorities working as chair in helping evolve the Welsh market in 2016.

She said: 

My take on the current state of the market is optimistic but with a note of caution. We’ve seen positive sentiment continue to return and this confidence is being supported by investors and funders. Mortgage lending continues to rise, with more people buying homes in Wales last year than any other since 2007. All the fundamental economic data suggests a housing market in growth whether that’s house prices, number of first time buyers, or very low arrears performance. Our expectations are that this trend will continue through 2016 as there is better affordability in Wales than the overall UK market and strong demand for our government-led schemes.” But we mustn’t be complacent or forget that there is significant change in the Welsh, UK and global environment.

She also spoke of the need to work closely with the Welsh Government:

We’re seeing more demands than ever on lenders on the regulation side, with the introduction of the Mortgage Market Review and the European Credit Directive, but also on the consumer side with greater needs for innovation, a demand for more diverse range of banking platforms in a digital age, and more individualised products. I see huge benefits of working collaboratively and so far Help to Buy Wales and the on-going work the Housing for an Ageing Population initiative are great examples of a much closer relationship developing with the Welsh Government to improve the market for the consumer over the past few years. Moving forward, we must address the barriers to housing supply and work with government and regulator to ensure we provide appropriate affordable housing across Wales. The CML provides the conduit for collaboration across all stakeholders, and it is in our interests to make sure we’re all at the table to shape the agenda.

To coincide with the CML Cymru annual lunch, we have published a News & Views article today releasing new data on the Welsh housing market and outlining how lenders can collaborate more effectively with the Welsh Government in support of a stable and sustainable housing market. We look at the need to promote shared ownership, models for shared equity, protection of the private rented sector, and appropriate regulation of housing associations in Wales to help promote funding for the sector.

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. Julie Ann Haines' speech at the CML Wales annual lunch is now available.

3. A photo and biography of CML Cymru chair Julie Ann Haines is available on request.

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