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
New data published today in CML News & Views shows that some 60% of mortgage holders anticipate that they will be in the same financial position or better in three years' time - even though the majority expect interest rates to rise.
The Council of Mortgage Lenders estimates that gross mortgage lending reached £17.8 billion in September. This is 1% lower than August (£18 billion), but 10% higher than September last year (£16.2 billion).
New CML data on the characteristics of lending in August show that lending declined slightly compared to July, the first month-on-month drop in house purchase lending volume since February this year.
The market in mortgages for 'high net worth' individuals is small and highly specialised.
No-one knows for sure when the Bank of England’s monetary policy committee will make its first decision to raise interest rates, but there some practical steps that people can take now to help prepare for it.