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 £1.28 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
Subtle, but not dramatic – that was our verdict on the impact of the mortgage market review (MMR) when we published our lending data for May.
While work on assessing the impact of the mortgage market review (MMR) continues, another major regulatory reform is looming on the horizon for lenders – implementation of the European mortgage credit directive in March 2016.
Lending for house purchase rose in May, continuing a pattern of steady recovery from its low point in 2009.
CML delighted to announce that Sainsbury's Bank plc is the latest firm to become an associate of the CML.
CML senior policy advisor Jennifer Bourne looks at the potential impact on the conveyancing market of proposals by SRA that would restrict cover for lenders from professional indemnity insurance.