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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Transparency of mortgage fees and charges

Last updated: 26 March 2018

At a glance

Combined logo of CML and Which?

We recognise the importance of consumers understanding the differences between different mortgage deals, including the fees and charges that apply, being able to compare mortgage products to better inform their choices.  

Helping customers compare

On comparison of mortgages, we worked to inform good practice in the way mortgage product information is presented to consumers on websites. Our work builds understanding of the consumer decision-making process up to the point of applying for a mortgage, including what lenders and mortgage websites can do to help consumers to make an informed decision. Our work also informs regulatory debate and feeds-in to the FCA Market study.

Helping customers understand

In an earlier phase of our work on transparency, we worked with Which? to produce a standard tariff of mortgage fees, to ensure that fees and charges are as clear and understandable as possible.

Tariff of mortgage charges

Final report of the transparency review of mortgage fees and charges (November 2015)

The aim of this industry initiative was to improve the transparency of mortgage fees and charges and help consumers understand them better. This project was supported by Which? and we believe it makes a substantive contribution to helping customers choose the mortgage that suits their needs.

  • During June 2016 the CML economics team reviewed the scale and nature of firms’ participation in the joint CML-Which? Transparency initiative.  

Why this is important for lenders 

Transparency is important in helping consumers shop around for their mortgage; to understand fees and charges that might arise; and better compare mortgages to inform their choices. 

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Downloads

  1. Restricted content Transparency in Mortgage websites (PDF 867KB)