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Note to Editors
1. The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 98% of all residential mortgage lending in the UK. There are more than 11 million mortgage customers in the UK, with loans worth more than £600 billion. Further background information on the CML is available from our website at www.cml.org.uk.
2. Representatives of the CML and the Association of British Insurers are today meeting Lord Rooker, the Minister of State for Housing and Planning, and Malcolm Wicks, Parliamentary Under-Secretary of State at the Department of Work and Pensions, to discuss the industry's sustainable home-ownership initiative.
3. The Survey of Mortgage Lenders (SML) profiles lending across the mortgage market based on completions from more than 50 lenders, including both banks and building societies.
4. The SML is a continuous monthly survey produced jointly by the Council of Mortgage Lenders (CML) and the Department of Transport, Local Government and the Regions (DTLR). It is based on 5% of mortgage completions and is grossed up to represent the whole of the mortgage market.
5. The next monthly SML release will be published on 18 July and will include figures up to and including June 2002.
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