CML Handbook to become UK Finance Mortgage Lenders' Handbook
The Council of Mortgage Lenders' (CML) Handbook will be renamed to become the UK Finance Mortgage Lenders' Handbook following the setting up of a new trade association for the finance and banking industry on 1 July 2017.
The handbook and any associated documents, including the Disclosure of Incentives Form, will be renamed and published on the Council of Mortgage Lenders' website on 3 July 2017.
The Council of Mortgage Lenders (CML) will merge with other trade bodies, including Financial Fraud Action UK, Asset Based Finance Association and Payments UK, to become UK Finance. The new trade association will represent around 300 firms in the UK providing credit, banking, markets and payment related services.
From 1 July, all references to the CML Lenders’ Handbook shall be deemed to mean the UK Finance Mortgage Lenders’ Handbook and all references to CML will be changed to UK Finance to reflect this.
Each of the handbooks (England & Wales; Scotland; Northern Ireland) will be amended so that the clauses, which make reference to the Council of Mortgage Lenders, are removed and changed to UK Finance.
We understand that this information will be set out shortly in the Lenders' Handbook section on the CML website and will contain some FAQs and responses aimed at assisting users during the transition.
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