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CML to launch retirement borrowing project

  • 06/07/2015
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CML to launch retirement borrowing project
The Council of Mortgage Lenders (CML) is to conduct a study into retirement lending, looking at the impact on consumers and how the industry can meet its demands.

Explaining how a review of its policies had revealed new priorities for the trade body, the CML said it believed the lending industry should place a central role in shaping the debate on retirement borrowing.

The key themes the CML will explore in its research include: consumer demand and the needs of older people, the types of products that could successfully meet demand, the impact of developments like pension reform, and how regulators and government will view the growing and changing market.

In March, Paul Smee, director general of the CML (pictured), announced that the trade body’s board had agreed to bring together a group of its members to identify the barriers blocking the safe development of retirement lending and look at ways to address them.

The CML said it planned to widen the debate to ensure others with an interest in the topic could participate, with the intention of setting out its views more fully on the future of retirement borrowing before the end of the year.

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