IMLA, the trade association for UK lenders involved in the generation of mortgage business through professional financial intermediaries, has announced Leeds Building Society will become its latest member.
The inclusion of Leeds Building Society, the UK’s 5th largest mutual by asset size, increases the size of IMLA’s membership to 22.
In addition, IMLA can also confirm that following its recent acquisition by The Co-operative Bank plc, Platform will continue to be a member of IMLA in its own right. As an originator of over £16.36bn of mortgage business to date, Platform is a valued member of IMLA and its continued participation is welcomed.
Peter Williams, Executive Director of IMLA, said the announcements demonstrate the importance of the intermediary sector to ensuring a healthy UK mortgage market:
“We are delighted to have Leeds Building Society on board. The Society is an important lender with a growing mortgage book. It is ranked 14th in the gross lending league table and has a first-rate reputation. I have no doubt it has much to contribute to the association.
“Despite ongoing difficulties in the market IMLA continues to maintain and expand its membership. Given the economic climate and the growing uncertainty surrounding the industry, the addition of another new member is encouraging. There is no doubt these are testing times but it demonstrates that UK lenders recognise the value of the intermediary market and IMLA will continue to work hard for the benefit of the industry.”
Martin Richardson, General Manager – Business Development at Leeds Building Society, said: “Intermediaries play a very important role in the UK mortgage market and joining IMLA is an opportunity to work with a proactive trade body and other lenders to shape the mortgage industry in these challenging times.”