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.

Last updated: 21 June 2017

Latest updates

21/06/17

Following the snap General Election on 8 June 2017, the Queen's speech marking the start of the parliamentary session took place on 21 June. The speech sets out...

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15/08/16

The Queen's speech took place on 18 May 2016 and sets out the government's legislative agenda for the 2016/17 parliamentary session. Key bills announced include: Lifetime Savings Bill...

More details

At a glance

  • The Queen's speech, delivered at the state opening of Parliament, is the public statement of the government's legislative programme for the year.
  • The speech is written by government and read out by the Queen in the House of Lords.
  • A 'parliament' runs from one general election to the next (five years). It is broken up into sessions which run for about a year - the 'parliamentary' year.
  • State opening takes place on the first day of the new session. The Queen's speech marks the formal start to the year. Neither the House of Commons or House of Lords can conduct any business until after it has been read.

Latest updates

21/06/2017

Following the snap General Election on 8 June 2017, the Queen's speech marking the start of the parliamentary session took place on 21 June. The speech sets out the government's legislative agenda for the next two parliamentary sessions - next year's Queen's speech is being ditched by the government to ease the way in parliament for new Brexit laws.

On housing the government will deliver the reforms proposed in the Housing White Paper; consult and take action to "promote transparency and fairness" for leaseholders; and look at ways to streamline the home buying process.

Key bills announced include:

Financial Guidance and Claims Bill
Draft Tenants' Fees Bill
Data Protection Bill

More information can be found in the 2017/19 tab in this section.

15/08/2016

The Queen's speech took place on 18 May 2016 and sets out the government's legislative agenda for the 2016/17 parliamentary session. Key bills announced include:

  • Lifetime Savings Bill
  • Neighbourhood Planning and Infrastructure Bill
  • Pensions Bill
  • Criminal Finance Bill
  • Better Markets Bill
  • Draft Law of Property Bill

More information can be found in the 2016/17 tab in this section.

The Queen's speech on 18 May 2016 marked the start of the 2016/17 parliamentary session. The government's legislative agenda includes the introduction of 21 new bills. Those of most interest are:

  • Lifetime Savings Bill – to enable the introduction of the new Lifetime ISA providing savers with a bonus on savings that can be used for a first home, retirement or both; and to create a Help to Save scheme for those on the lowest incomes..
  • Neighbourhood Planning and Infrastructure Bill – to support the government’s aspirations to deliver 1 million new homes; strengthen neighbourhood planning; make compulsory purchase order process clearer, fairer, faster; establish the independent National Infrastructure Commission; and enable the privatisation of the Land Registry.
  • Pensions Bill – will create the new pensions guidance body, bringing together the Pensions Advisory Service, Pension Wise and the pension services offered by the Money Advice Service. Will also create a new money guidance body to replace the Money Advice Service to identify gaps in the financial guidance market.
  • Criminal Finance Bill – to implement a more effective regime to support reporting of suspicious financial activity; and to improve co-ordination between the public and private sectors to tackle criminal financial behaviour.
  • Better Markets Bill – will facilitate switching and simplify economic regulation; and boost  the Competition and Markets Authority’s powers to take on anti competitive behaviour.
  • Draft Law of Property Bill – government will bring forward proposals responding to the Law Commission’s report Making land work: essentials, covenants and profits a prendre (2011) to simplify the law around land ownership.

Background briefing notes have been published on all of the bills announced.

Following the snap General Election on 8 June 2017, the Queen's speech marking the start of the parliamentary session took place on 21 June. The speech sets out the government's legislative agenda for the next two parliamentary sessions - next year's Queen's speech is being ditched by the government to ease the way in parliament for new Brexit laws.

On housing specifically the government will:

  • deliver the reforms proposed in the Housing White Paper to increase transparency around the control of land, to “free up more land for new homes in the right places, speed up build-out by encouraging modern methods of construction and diversify who builds homes in the country”;
  • will consult and look to take action to promote transparency and fairness for leaseholders. The government will look at the sale of leasehold houses and onerous ground rents, working with property developers, the Competition and Markets Authority and others as outlined in the White Paper;
  • and on the housing market, the government will look at ways it can streamline the home buying process so it is cheaper, faster and less stressful for people when they make the biggest purchase of their life. Measure will be published as part of a green paper on consumer markets which will look at those markets which are not working fairly for consumers. The green paper will look across markets at how to help consumers avoid being caught out by unfair terms and subscription traps. Government will also consider ways to help them enforce their rights, including through more widespread use of alternative dispute resolution.

The bills of most interest to the housing and mortgage markets are:

Financial Guidance and Claims Bill - will combine three financial advice bodies into one, ensuring that people across the UK are able to seek the help and advice they need to manage their finances. The Bill will:

  • establish a new statutory body, accountable to Parliament, with responsibility for coordinating the provision of debt advice, money guidance, and pension guidance;
  • transfer the regulation of claims management services to the Financial Conduct Authority, and transfer complaints-handling responsibility to the Financial Ombudsman Service.

Draft Tenants’ Fees Bill – will tackle unfair fees on tenants will make the private rental market more affordable and competitive. The draft Bill will bring forward proposals to:

  • ban landlords and agents from requiring tenants to make any payments as a condition of their tenancy with the exception of the rent, a capped refundable security deposit, a capped refundable holding deposit and tenant default fees;
  • cap holding deposits at no more than one week’s rent and security deposits at no more than one month’s rent.

Data Protection Bill - will fulfil a manifesto commitment to ensure the UK has a data protection regime that is fit for the 21st century. The Bill will:

  • ensure that our data protection framework is suitable for our new digital age, and cement the UK’s position at the forefront of technological innovation, international data sharing and protection of personal data;
  • strengthen rights and empower individuals to have more control over their personal data including a right to be forgotten when individuals no longer want their data to be processed, provided that there are no legitimate grounds for retaining it;
  • establish a new data protection regime for non-law enforcement data processing, replacing the Data Protection Act 1998; and
  • modernise and update the regime for data processing by law enforcement agencies.

Courts Bill - will reform the courts system in England and Wales to ensure it is more efficient and accessible, and in doing so utilise more modern technology. The Bill will introduce digital services which will allow businesses to pursue their cases quickly, enabling them to recover debts more easily;

High Speed 2 Phase 2A Bill - the next phase of the HS2 project, linking up communities, will be set out in this Bill. The Bill will provide the powers to build and operate the next stage of the HS2 network between Birmingham and Crewe.

Repeal Bill - will allow for a smooth and orderly transition as the UK leaves the EU, ensuring that, wherever practical, the same rules and laws apply after exit and therefore maximising certainty for individuals and businesses. The Bill will:

  • repeal the European Communities Act 1972 and convert EU law into UK law as we leave the EU;
  • create temporary powers for Parliament to make secondary legislation, enabling corrections to be made to the laws that do not operate appropriately once we have left the EU. It will also allow changes to be made to domestic law to reflect the content of any withdrawal agreement under Article 50;
  • replicate the common UK frameworks created by EU law in UK law, and maintain the scope of devolved decision-making powers immediately after exit. This will be a transitional arrangement to provide certainty after exit and allow intensive discussion and consultation with the devolved administrations on where lasting common frameworks are needed. 

Background briefing notes  have been published on all of the bills announced, as well as the additional legislative housing measures.