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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Improving the home buying and selling process

Last updated: 5 Jan 2018

Consulting body:
Department for Communities and Local Government
Period of consultation:
Runs from 5 December 2017 to 15 December 2017
CML action:
Response submitted

Executive Summary

  • There is already a very strong focus on customer experience and efficiency in the mortgage sector, which is driving innovation; however, all parts and players in the process need to innovate to work well together.
  • There needs to be a balance maintained between efficiency and speed; and allowing enough time to carry out sufficient checks and controls, particularly from fraud prevention and regulatory perspectives. Such checks and controls are in the customers’ best interests.
  • There is scope for greater collaboration between parties involved in the home-buying process, including lenders, and government in relation to online ID assurance, to speed up this aspect of the process.
  • Government and bodies including the Law Commission, which have already consulted extensively on the operation of land law in relation to e-conveyancing, must work with one another to identify and take forward the common issues and ideas raised by stakeholders, some of which we detail below.
  • We are not aware that the mortgage process is viewed as a major cause of delay (and the government’s consumer research does not appear to indicate differently).
  • Ultimately, the type of property chosen is key to establishing the level to which a lender may be prepared to lend to a customer.

Download the full response below.