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 estimates that gross mortgage lending reached £18.6 billion in August.
A consultation published last week by the Treasury on how the UK should implement the European mortgage credit directive could have significant implications for the buy-to-let sector.
We welcome the decision of the Legal Services Board (LSB) to take more time to consider proposals that potentially could have caused considerable disruption to the housing market in England and Wales this autumn.
The Help to Buy scheme is supporting new housing construction, and it is being used extensively by first-time buyers to purchase average-priced properties across the UK, data published by HM Treasury shows.
Today, the Treasury issued a consultation on how the UK will implement the requirements of the European Mortgage Credit Directive, which needs to be fully implemented by March 2016.