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
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.
CML welcomed the government’s announcement of its scheme to provide starter homes for first-time buyers, which should produce a modest additional flow of lower-cost housing for this group of purchasers.
Looking ahead over the next two years, housing and mortgage market developments appear well supported by relatively favourable economic fundamentals.
New CML data on the characteristics of lending in October of 2014 show growth in lending trends to first-time buyers, home movers and buy-to-let but a decline in remortgaging.
The Council of Mortgage Lenders welcomes today's announcement by the Chancellor in the Autumn Statement of the reform of stamp duty land tax away from the current slab structure to a marginal system. The CML has long argued for such a reform.