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mortgage lender
Council, although membership is voluntary, and in turn follow the rules laid down by the Mortgage Code. Membership is open to residential lenders including banks, building societies and other lenders, and their members cover 98% of all residential mortgages in the UK.
The Council of Mortgage Lenders cannot advise or investigate mortgage complaints however the Mortgage Code sets out rules that lenders should adhere to:
- How your mortgage should be arranged.
- What information you should receive before you commit yourself.
- How your mortgage should be dealt with once it is in place.
If a mortgage lender or broker that is a member of the Code fails to meet its standards, and this results in loss or suffering on your part, you have a right to apply for compensation under a compulsory independent complaints scheme.
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