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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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PRA consultation on equity release mortgages

Last updated: 27 May 2016

Consulting body:
Prudential Regulation Authority
Period of consultation:
Runs from 31 March 2016 to 27 May 2016
CML action:
Response submitted

The CML has responded to the Prudential Regulation Authority consultation on equity release mortgages (ERM).The paper was asking for views on ERM valuation, capital treatment, risk management and associated matters.  

We welcome the engagement of the PRA in this sector of the mortgage market. 

The discussion paper does not propose any additions to the PRA Rulebook but seeks to gain a more detailed understanding of the development of this sector of the mortgage market and the policies that firms employ within this segment of the market - particularly in regard to valuations and risk management.

The full CML consultation response can be downloaded at the foot of this page.