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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Law Commission 13th Programme of Law Reform

Last updated: 19 Jul 2016

Consulting body:
Law Commission
Period of consultation:
Runs from 14 July 2016 to 31 October 2016
CML action:
Response submitted

The Law Commission opened a consultation on their 13th Programme of Law Reform, asking whether banks’ duties to customers should be reviewed, and a stronger duty of care introduced.  The consultation also invited views on how leasehold law can be improved.

CML response

We have now responded to the consultation, noting that we do not believe there would be merit in reviewing and restating the duty of care banks and other financial services providers as they already have well-established approaches to treat customers fairly and with due regard to their interests.

We have requested that the Law Commission consider changes to the law of forfeiture, including the difficulties obtaining relief from forfeiture, as we also suggest a review of the Law of Property Act 1925 with a view to rebalancing the interests of the parties.

The full CML response can be downloaded below.