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
The Council of Mortgage Lenders has today responded to the Treasury's consultation on giving direction powers to the Financial Policy Committee over housing market tools including loan-to-value and debt-to-income caps.
The Council of Mortgage Lenders estimates that gross mortgage lending reached £19 billion in October. This is 5% higher than September (£18 billion), and 8% higher than October last year (£17.5 billion). This is the highest lending total for an October since 2008 (£18.6 billion).
The housing market is in better shape than a year ago, despite going through a tumultuous 12 months of transition.
The 'rising stars' challenge proved to be one of the highlights of our recent annual conference – with delegates and an expert panel voting on four, high-quality submissions.
Mortgage arrears and possessions fell again in the third quarter of the year, continuing a period of almost unbroken decline since 2008.