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Council Of Mortgage Lenders

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The CML have changed the data that they produce suddenly dropping the analysis of the split between new houses bought and re-mortages. As below

Today's monthly lending press release no longer provides information that we have previously published in the SML. In future, lenders representing the majority of UK mortgage lending will voluntarily report details of their transactions to us based on their statutory reporting of Product Sales Data to the Financial Services Authority. The result should be the most representative source of information on the UK market.

Unfortunately, it is likely to take a few months before the new reporting arrangements bed down and allow us to report market data on a timely basis. During this transition period, we will continue to issue monthly press releases, but these will only include a few summary statistics. We will reinstate a fuller press release, initially on a quarterly basis, as soon as possible.

Is it me or is this fishy, possibly covering up just how much of the lending is re-mortgaging. It specifies that it is new lending. But that is new lending per building society and a large amount is going to be churn and MEW to consolidate loans etc.

Edited by uro_who

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Yep, I saw this at the bottom of yesterday's report, via the cml.org.uk website. I too was suspicious. I think the lending figs. have mainly been bumped up by MEW / remortgaging.

Edited by Buffer Bear

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