CML responds to FCA announcement

October 20, 2016

The Council of Mortgage Lenders (CML) this week responded to the FCA’s announcement of a consultation on a potential framework for remediation to address past arrears calculation methodology problems.

To read the news release from the CML in full click here

Paul Smee, CML director general, says:  “Those lenders who used the arrears calculation methodology now identified as problematic did so in good faith, believing that they complied with the rules and were acting in customer interests. They are fully committed to delivering fair outcomes for all customers, past and present. Customers do not need to do anything. Once lenders have digested the regulator’s consultation and determined the most appropriate way to undertake the expected remediation, they will be in touch directly with affected customers”.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Commercial Agent Talk

London office workers want better workspaces, not free lunches

The latest research by BPS London has found that London office workers are more interested in better quality workspaces than superficial perks such as free breakfasts and lunches, with 63% saying they would be more willing to work from the office more regularly if their workplace was more modern, comfortable and better equipped. BPS London commissioned a…
Read More →
Breaking News

The hottest prime property markets outside of London

The latest analysis from Enness Global has revealed that whilst London continues to dominate England’s prime property market, Elmbridge ranks as the nation’s leading hotspot outside of the capital when it comes to homes sold for £3m or more. Enness Global analysed Land Registry transaction data, looking at where homes sold for £3m or more…
Read More →
Breaking News

Breaking Property News 21/4/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   The SaaS squeeze: Why AI is the greatest threat proptech has ever faced The core shift from software to intelligence   Thought Leadership by Andrew Stanton CEO Proptech-PR ‘For the better part of two decades, the proptech sector has ridden the same wave that transformed fintech,…
Read More →
Estate Agent Talk

Unmodernised property opportunities dwindle

Jonathan Samuels, CEO of Octane Capital, believes that the shrinking supply of unmodernised property stock is making specialist refurbishment finance more important than ever, as investors increasingly need to move quickly in order to secure the remaining opportunities available. Octane Capital analysed current listings of unmodernised properties across England and compared current stock levels to…
Read More →
Letting Agent Talk

London Marathon route showcases London rental market

Rents range from £1,500 to £6,000 per month The latest research from London lettings and estate agent, Benham and Reeves, has found that the London Marathon route offers a striking snapshot of the capital’s rental market, with average rents ranging from just £1,500 per month at some points of the course, to as much as…
Read More →
Breaking News

Section 21s continue to rise ahead of looming ban

The latest research industry insight from LegalforLandlords Section 21 “no-fault” evictions continued to rise in 2025, increasing by 1.7% following a sharp 20.4% surge the previous year. This sustained growth highlights landlords’ continued reliance on Section 21 notices, raising important questions about how possession will be regained once they are outlawed under the Renters’ Rights Act,…
Read More →