11
Aug
CML welcomes Treasury Committee's mortgages report
The Council of Mortgage Lenders (CML) has welcomed the Treasury
Committee's report on mortgage arrears and access to mortgage
finance.
Sharing the committee's view that the FSA should take action in the
minority of cases where there are legitimate findings of poor
practice, the CML has expressed agreement that the position on fees
and charges for those in arrears should reflect the actual work
carried out.
CML head of policy Jackie Bennett said that the mortgage industry
is completely engaged with helping consumers who have a strong
chance of getting back on track and sustaining their home-ownership
once the recession lifts.
"Lenders remain committed to helping borrowers who fall into
difficulty, where those borrowers are talking to their lenders and
committed to helping themselves," she said.
Meanwhile, the Bank of England announced last week that the base
rate of interest is to be held at 0.5 per cent at least until the
September meeting of its Monetary Policy Committee.
