The Council of Mortgage Lenders (CML) is the trade association for UK residential mortgage lenders.
We represent a mix of banks, building societies, and non-deposit taking lenders. Our members account for 95% of all residential mortgage lending in the UK, and have £1.25 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 quarterly parliamentary newsletter, Housing finance at a Glance, to all MPs and peers that have a specific interest in housing issues. And we run informal briefing lunches in the House of Commons for backbench MPs and peers 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
CML reports 16% annual fall in interest-only back book as lenders maintain efforts to ensure borrowers have repayment plans in place
Over the past two years, the total number of interest-only loans outstanding has fallen by over a quarter, according to the Council of Mortgage Lenders - with a 16% reduction in the number of loans over the past year alone.
The Council of Mortgage Lenders estimates that gross mortgage lending reached £20 billion in August. This is 8% lower than July’s lending total of £21.7 billion, but 12% higher than August last year (£17.8 billion).
House purchase lending in the UK saw its third consecutive month-on-month growth by volume and by value in July. This was also the second month that volumes and values increased compared to the same month in 2014.
New CML data on the characteristics of lending in Greater London in the second quarter of 2015 outlining mortgage lending to first-time buyers, home movers and remortagors.
The repossession rate - already at its lowest since records began - continued to fall in the second quarter of 2015, according to latest data from the Council of Mortgage Lenders.