CML to collect BTL data in 2017

The Council of Mortgage Lenders will begin collecting buy-to-let lending data in 2017.

The trade body gave details for the expansion in its 2016 member review document.

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The CML document says: “With the Bank of England set to introduce new requirements for firms reporting data on buy-to-let lending, we plan to develop a parallel system allowing us to capture the same information.

“Our statistical coverage of buy-to-let will therefore expand to match the comprehensive data on residential lending that we already compile from the regulated mortgage survey.”

The CML says it wants to broaden its market data but without bringing in tough new reporting requirements.

The CML document also says the banking trade body merger is expected next year.

The lender trade body says: “We will seek to ensure that the transition to the new body  progresses as smoothly and as seamlessly as possible.”