"The Council of Mortgage Lenders (CML) is the trade association for UK residential mortgage lenders. Our 109 members are a mix of banks, building societies, and non-deposit taking lenders. Our members account for 95% of all UK residential mortgage lending, and have £1.2 trillion of lending outstanding to around 11 million households.
"Our purpose is to represent mortgage lenders and promote sustainable housing finance in the UK. We are the main representative voice for the residential mortgage lending industry, and the central provider of economic, statistical, legal, research and other market information.
"We are always happy to help parliamentarians with queries on the mortgage market. We distribute a regular parliamentary newsletter, Housing finance at a Glance. And we run informal briefing lunches in the House of Commons for backbench MPs to discuss current market issues. If you have a mortgage market query or would like any information on our work, please contact our public affairs manager Michelle Vosper, or visit our website www.cml.org.uk"
Today, we look at trends in remortgaging. Almost seven million borrowers have refinanced since 2005, but current levels of remortgaging are at a 15-year low.
The Council of Mortgage Lenders estimates that total gross mortgage lending increased by 4% on March to £12.1 billion in April, but cautions that meaningful comparisons with last April are difficult.
Brian McCormick, head of mortgages at First Trust Bank, has today been appointed the new chairman of CML Northern Ireland. He replaces Derek Wilson of Ulster Bank who has held the position since April 2011.
First-time buyer activity remained strong in March with the number of first-time buyers increasing by 20% according to data published today by the Council of Mortgage Lenders.
Gross mortgage lending of £4.2 billion across 33,500 mortgages was advanced to buy-to-let landlords in the first quarter of 2013, according to latest survey data from the Council of Mortgage Lenders. This compares with £4.6 billion the previous quarter, and £3.7 billion in the first quarter of last year.
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