View more on these topics

CML associate members fall by fifth in two years

The Council of Mortgage Lenders has lost nearly 20 per cent of its associate membership since the end of 2007 at a cost of more than £125,000 a year.

The CML has 133 full members and 86 associate members, which are firms such as solicitors, mortgage administrators and technology providers. At the end of 2007, the council had 105 associate members and 163 members. The cost of being a CML associate is £6,610 per year as well as a £1,525 joining fee. Cost for full members depends on the size of the lender.

A CML spokesman says the number of associate members reflects the business opportunities in the mortgage sector. He says: “Associates do move in and out of the industry but sometimes it is cyclical. It depends on their commercial strategies.”

Technology provider Xit2, which became an associate member this week, says it joined the CML because it wants to align its business as closely as possible to the needs of lenders.

In a speech to the CML annual conference last month, director general Michael Coogan said he expects that the number of full members will decline further next year.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com