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 www.ukfinance.org.uk for wider content and updates from UK Finance.

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Proposals for a loan-level data collection of buy-to-let lending: a consultation

Last updated: 10 Jun 2016

Consulting body:
Bank of England
Status:
Closed
Period of consultation:
Runs from 29 April 2016 to 10 June 2016
CML action:
Response submitted

The Bank of England published a consultation on its proposals to collect loan-level buy-to-let lending data on 29 April 2016.

The collection is intended to support the needs of the Monetary Policy Committee, the Financial Policy Committee and the PRA Board1 and therefore aims to combine Bank of England statistical and regulatory data requirements into one collection for the first time.

The Bank invited comments on:

  • the proposed list of attributes,
  • the potential difficulties in obtaining data on lending to corporates, and;
  • the proposed timing

The CML have submitted a response to the call for evidence and, broadly, we recognise that the proposal to collect loan-level buy-to-let data is essential to provide timely data to support the Bank’s supervisory functions.

We advocate that the Bank grant lenders a more generous reporting timescale, ask for additional clarity in cases of unclear data attributes, and request reporting exemptions for specific lending types with little market significance.

Read the full CML response, available to download below.