• CML News & Views: Housing and the forthcoming Budget

    Given that the chancellor has limited room for manoeuvre, we do not expect substantial reform of stamp duty in the forthcoming Budget – though we agree with the Mirrlees review that it distorts markets and is badly designed.

  • CML: Gross mortgage lending declines in January

    The Council of Mortgage Lenders estimates that total gross mortgage lending declined to £10.4 billion in January. This is 9% lower than December’s gross lending figure of £11.4 billion and a 3% fall from £10.7 billion in January 2012.

  • CML: Mortgage and housing markets in Canada and the UK

    To see all the stories in full, go to the latest issue of CML News & Views, available here.

  • CML reports lowest number of repossessions since 2007

    The Council of Mortgage Lenders today reports a fall in the number of properties taken into possession by first-charge residential mortgage lenders from 8,200 in the third quarter of 2012 to 7,700 in the fourth quarter, maintaining a repossession rate of 0.07%. This is the lowest quarterly number since the fourth quarter of 2007.

  • CML: Buy-to-let lending £16.4 billion in 2012

    Buy-to-let lending accounted for 11.5% of total gross mortgage lending in 2012, up from 9.8% in 2011, according to full-year data released today by the Council of Mortgage Lenders. At £16.4 billion, gross buy-to-let lending was 19% higher than the £13.8 billion advanced in 2011, reaching its highest level for four years.

  • CML: First-time buyers reach highest yearly total in five years

    The number of first-time buyers reached its largest yearly total in five years, according to new data released today by the Council of Mortgage Lenders.

  • CML announces Paragon's Terrington as new chairman

    Nigel Terrington, chief executive of The Paragon Group of Companies PLC, a specialist buy-to-let mortgage lender, has today become chairman of the Council of Mortgage Lenders. He replaces Martijn Van der Heijden of HSBC, who has held the position since August 2011.

  • CML: Is the UK mortgage market really open for business?

    In the first issue of CML News & Views this year, we pose a fundamental question: Is the UK mortgage market really open for business? We look at 10 different indicators of activity – across a wide range of measures, including transactions, first-time buyer access and mortgage availability. We conclude that all these indicators show that the shutters really are coming up. Our second article looks at... READ MORE.

  • Gross lending £11.7 billion in December, says CML

    Gross mortgage lending in December reached an estimated £11.7 billion, according to the Council of Mortgage Lenders. This brings the estimated total for the year to £143 billion, up from £141 billion in 2011. In 2013, the CML forecasts gross lending will reach £156 billion.

  • CML: House purchase activity increase driven by rise in first-time buyers

    Increased activity in the first-time buyer sector, as well as among home movers, contributed to a 6% rise in the number of loans for house purchase in November according to new data released today by the Council of Mortgage Lenders.

  • CML outlines market forecasts for 2013-14 and reveals industry self-evaluation findings

    The Council of Mortgage Lenders today estimates that gross lending in November was around £12.9 billion, and publishes its market forecasts for 2013-14, alongside a self-evaluation of the mortgage market based on interviews with the UK's mortgage lenders. Overall, there are grounds for optimism that the market recovery which began this year should continue next year, reinforced in part by Funding for Lending scheme effects.

  • CML News & Views: three major articles in the final issue of the year!

    Lower interest rates enable borrowers to pay off mortgages more quickly. But, with household budgets under pressure, how much have they been doing so? Analysis published for the first time today gives some surprising – and encouraging – answers. One-third of loans taken out since 2005 have been overpaid. And the £31 billion in additional capital payments is more than 10% over and above what was actually due. It amounts to a sizeable accumulation of household wealth.

  • CML: First-time buyer activity receives October boost after slow September

    The number of loans advanced to first-time buyers in October returned to levels similar to those seen over the summer following a slow September, according to new data released today by the Council of Mortgage Lenders.

  • CML welcomes extension of SMI scheme

    The Council of Mortgage Lenders today welcomed the Government's extension of the Support for Mortgage Interest (SMI) scheme.

  • CML: Housing in regional markets - and the need for affordable flood insurance

    Today, we look at why the housing market in London differs from the rest of UK. The capital’s rapid growth, attraction to migrants from within and outside the UK, and governance by a mayor create unique challenges and opportunities. We look forward to publication of London’s long-awaited housing strategy, and hope it maximises the potential for lenders to contribute to future needs.

  • CML: Number of first-time buyers in London rises to highest figure in nearly 3 years

    In the first of a series of new quarterly reports on lending in London, the Council of Mortgage Lenders reports that a total of 10,000 first-time buyers took out a mortgage in London in the third quarter of 2012. This was the highest number in the capital in a single quarter for almost three years.

  • CML: Gross mortgage lending at 11-month high in October

    There are signs that the market weakness of recent months may be coming to an end, according to the Council of Mortgage Lenders. The CML's forward estimate is that total gross mortgage lending recovered to £12.9 billion in October. This would reverse the sharp dip reported for September, and imply that lending was 4% higher than the same month a year earlier.

  • CML News & Views: Rising to the housing minister's challenge

    At our recent annual conference, the new housing minister Mark Prisk set a key challenge for lenders in his keynote address: let’s bust the myth that mortgages simply aren’t available.

  • CML: House purchase lending rises in third quarter despite slow September

    While house purchase lending in the third quarter showed a 13% rise, monthly lending has not followed an even path during the quarter. On a monthly basis, September saw substantially lower house purchase lending than August, although remortgaging rose over the month. Following a particularly strong August, a total of 44,400 house purchase loans were advanced in September, down from 53,900 loans last month and 48,800 loans in September last year.

  • Buy-to-let continued to grow in third quarter, says CML

    The value of buy-to-let mortgages taken out in the third quarter of 2012 totalled £4.2 billion, an increase of 8% over the £3.9 billion advanced in the preceding three months, according to data published today by the Council of Mortgage Lenders. The number of loans advanced in the three months to the end of September totalled 34,400, 2% more than in the second quarter of 2012 (33,600).

  • Repossessions fall in third quarter and arrears remain stable, reports CML

    The number of mortgage possessions fell again in the third quarter of 2012, according to data released today by the Council of Mortgage Lenders.

  • CML Chairman says lenders have the insight to deliver a consumer-focused mortgage market

    Speaking today at the Council of Mortgage Lenders' annual conference, CML Chairman Martijn Van der Heijden reminded delegates that, despite relatively subdued market conditions, one million households have become first-time buyers since the credit crunch, accounting for 1 in 10 of all current mortgage holders.

  • CML: New analysis shows a decline in negative equity

    The main article in today’s issue of CML News & Views updates our analysis of housing equity held by borrowers, and shows what’s happened in the last 18 months. Overall, the amount of unmortgaged equity remains unchanged at around £800 billion. But the number of borrowers in negative equity has declined more than 100,000, or 13%, and now stands at just over 700,000. And the proportion of first-time buyers in negative equity has also fallen.

  • CML: Gross mortgage lending declines in September

    The Council of Mortgage Lenders estimates that gross mortgage lending in September was £11.6 billion. This is 10% lower than August’s gross lending figure of £12.9 billion and a 15% fall from £13.7 billion in September 2011.

  • CML News & Views: Interest-only - its past and its future

    Today, we contrast the history of interest-only mortgages – once the most popular choice for borrowers – with their future as a niche product. Regulation (which we support) is reinforcing the trend. But interest-only rightly remains the norm for buy-to-let borrowers. Read more...

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