What does 'Council of Mortgage Lenders' mean when buying a property?

Find out what Council of Mortgage Lenders means when you are buying a property. 'What does Council of Mortgage Lenders mean?' plus over 150 other property related terms and jargon in plain English

Council of Mortgage Lenders

Almost all banks and lenders that offer mortgages in the United Kingdom are members of the Council of Mortgage Lenders (CLM).

This body acts to promote the interests of the mortgage lending industry but also carries out other work such as compiling the CLM Handbook. This is a checklist for solicitors laying out what documents need to be obtained and inspected before a mortgage provider will lend on a given property.

To find out more about the Council of Mortgage Lenders and their role in your property purchase pick up a copy of my ebook How to Really Buy a Property.

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"... in this chapter Who makes house price predictions; What is the track record of RICS, the Nationwide, the Halifax, the Council of Mortgage Lenders, Hometrack, Capital Economics and many of the other 'experts' used by the media; Who can make accurate forecasts; Why organisations make..."
"... wide range of possible price rises did pay off in 2018 when they predicted increases of "between 0 and 3%". Prices rose 1%. - The Council of Mortgage Lenders - Like the Halifax and the Nationwide the CML has a close grip on the number of new mortgage applications being received across..."
"... a hidden agenda. The Nationwide, Halifax, Council of Mortgage Lenders and other lenders want to be positive so people will borrow and they will profit. Even RICS could be accused of this. The more transactions there are in a market, the more work there is for their members. Alternatively..."

"... lender has a different set of things that they want to know. These requirements are collated by The Council of Mortgage Lenders. The result is the CLM Handbook and every solicitor has access to a copy. When your solicitor knows who you are going to be borrowing from they open up the handbook and see what they need to find..."

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