05-12-2007
CML positive over mortgage market
News by Adfero for Simply Business - independent providers of business insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The UK's Council of Mortgage Lenders (CML) is positive about the growth of the mortgage market over the last two years.
Over the last 24 months, the CML has reported a number of positive developments, including a 25 per cent increase in gross mortgage lending, in addition to the arrival of a number of new products and mortgage lenders to the market.
The CML's message was expressed as part of its seventh annual conference, which took place on December 4th. However, the conference also examined the more recent issues affecting the country's mortgage market, including the need to re-establish market confidence, in addition to the need to swiftly find a resolution to the current issues facing Northern Rock.
"Lessons clearly have to be learned by all parties, including those of us managing businesses in the mortgage market, the regulators, the Treasury and the Bank of England," said Jon Pain, chairman for the CML. "It is important in the current storm that we retain a sense of perspective," he added.