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
Over a third of new mortgages being taken out today will extend beyond the borrower’s 65th birthday, delegates at our ‘pension tension’ conference were told last week.
Gross mortgage lending in May (not seasonally adjusted) showed little change on the previous month or on the same month last year, according to the Council of Mortgage Lenders.
Falling borrowing rates are about to trigger the first fall for almost five years in the rate at which support for mortgage interest is paid to borrowers.
Paul Smee: 'House purchase lending in April was relatively subdued compared to last year, but similar to activity in March'.
Our most recent data for Scotland shows that home movers are bucking the trend - and showing a strong year-on-year growth in activity.