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Mortgage article 8:Annual Report Records Year of Achievement for CML

Tuesday 14 May 2002

Mortgage lending - fuelled by a buoyant housing market - reached record levels in 2001, according to the 
Council of Mortgage Lenders' annual report, published today. Gross advances rose by 34% to 161 billion, 
and net lending increased by 32% to 55 billion. More than 11 million mortgages, amounting to over 
600 billion in value, are held by CML members, and owner-occupation is now a reality for two-thirds 
of households in the UK.

The annual report also highlights:

The CML's success in persuading the Treasury to re-consider its proposals for the statutory regulation of mortgages.
A better framework is now proposed for regulation and the CML will continue to press for a final set of mortgage 
rules that help sustain customer confidence, without placing an unnecessary burden on the industry and consumers.
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