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
Last year proved to be an eventful and highly successful one for the industry. In the first full year of market recovery since the credit crunch, mortgage lending grew by more than 15%.
The first year of the Help to Buy mortgage guarantee scheme has seen almost 30,300 home loans completed with the help of the initiative.
The Council of Mortgage Lenders estimates that gross mortgage lending reached £16.5 billion in December.
The CML has submitted its response to the Financial Conduct Authority's consultation on implementing the European Mortgage Credit Directive (MCD) in the UK, identifying four main areas where a change of approach is needed to achieve minimum disruption to the UK mortgage market.
CML welcomed the unexpected announcement by the chancellor that he was reforming stamp duty so that home-buyers are no longer forced to pay the highest applicable rate on the whole of the price paid for a property.