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
Total housing wealth was estimated at £4,768 billion in 2014, an increase of 8% over the last year.
In its report, the Behavioural Insights Team (BIT) focuses on what could be done to encourage borrowers in financial difficulty to take action earlier, either by seeking advice or by engaging with their lender and the courts service.
The Council of Mortgage Lenders' April estimate for total gross lending is £16 billion, 1% down on the previous month and 4% lower than the £16.7 billion of lending last April.
The CML today releases new data on the characteristics of UK lending in March and the first quarter of 2015 broken down by trends to first-time buyers, home movers, remortgaging and buy-to-let.
We are currently finalising submissions to the Basel Committee on consultations that could significantly disrupt parts of the UK mortgage market.