Council of Mortgage Lenders - a trade organisation of home finance providers consisting of specialist mortgage lenders, banks and building societies.
From 1991 to 2010, CML members shared details of repossessions between themselves, via Experian and Equifax, on a Repossessions Register which used to appear on credit reports until the database was destroyed on 30 June 2010. The practice was disbanded because credit reports had developed to include repossessions within shared databases such as CAIS, Share and Insight.
The Council of Mortgage Lenders is the trade association for the mortgage lending industry, and their members account for around 98% of UK residential mortgage lending.
The CML works to help to foster a favourable operating environment in the UK housing and mortgage markets. They are the representative voice for the residential mortgage lending industry, and the central provider of economic, statistical, legal, research and other market information. Banks, building societies and other mortgage lenders are members and they also have associates, drawn from a variety of related businesses, including lawyers, conveyancers, search companies and management consultants.
The departure of building societies from the 'mutual club' and the increasing role of banks and other specialist lenders in providing home loans led to the formation of the Council of Mortgage Lenders (CML).
It acts as a representative body for its members. The CML's work is administered by the staff of the Building Societies Association (BSA).
Use the links below to locate the term you are looking for. If you can't locate it, please get in touch.