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.

Last reviewed: 1 Jan 2010

The Mortgage Code, which no longer exists, came into effect for lenders on 1 July 1997 (first edition) and on 30 April 1998 for mortgage intermediaries (second edition). It remained in force until 31 October 2004, when the Financial Services Authority’s Mortgage Conduct of Business Sourcebook (MCOB) came into force, and the Code was withdrawn.

The last version of the Code was a re-print of the second edition, dated January 2003.

With effect from 30 April 1998, the Code was extended to mortgage intermediaries and subscribing lenders undertook not to accept mortgage introductions from intermediaries who were not also registered as subscribers. The Mortgage Code Register of Intermediaries (MCRI) was set up to keep a register of all subscribing mortgage intermediaries and lenders were able to check this register to make sure they only dealt with registered firms.

Also with effect from 30 April 1998, lenders and intermediaries were required to give all customers a copy of the Code leaflet You and your mortgage. The leaflet was revised in March 2002. 

Lenders’ compliance with the Code was overseen in the first two years by the same Independent Review Body which was responsible for monitoring compliance with the Banking Code. At that time it was known as the Independent Review Body for the Banking and Mortgage Codes, or IRB: it is now known as the Banking Code Standards Board.  In 1999 the decision was taken to create a single, independent body to register and monitor lenders’ and intermediaries’ compliance with the Mortgage Code – and the Mortgage Code Compliance Board was duly set up.  MCCB continued in operation until 31 October 2004, when the Financial Services Authority (FSA) assumed statutory responsibility for regulating mortgages.


  1. The Mortgage Code (PDF 169KB)
  2. You and your mortgage (PDF 357KB)