The Intermediary Mortgage Lenders Association (IMLA) has announced the full re-election of its current board of directors to serve in 2014. The vote of confidence concludes a year of growth for the trade association, which represents the interests and views of lenders in the intermediary mortgage market.
David Finlay, Barclays managing director of intermediaries, will serve a second year as the first IMLA chairman from a mainstream retail bank. Charles Haresnape, Aldermore managing director of residential mortgages, retains the role of deputy chair.
John Heron, managing director of Paragon Mortgages, Richard Tugwell, director of intermediary sales at Virgin Money, and Kevin Purvey, head of intermediary sales at Coventry Building Society will also continue their roles as IMLA directors following a unanimous vote.
The election result means IMLA will continue to be led by a diverse mix of lenders in 2014, bringing together the mainstream retail banking sector, emerging ‘challenger’ brands, the building society sector and specialist lenders. IMLA has also added six associate members during 2013 to the twenty lenders within its ranks.
Members’ vote for continuity reflects the momentum IMLA has built in 2013, fuelled by the publication of its report, Rebalancing the housing and mortgage market – critical issues, and its hosting of the inaugural Great Mortgage Debate in Westminster. IMLA has been vocal in calling for a long term government strategy for the mortgage market to replace short-term interventions like the Funding for Lending Scheme (FLS) and Help to Buy, along with greater effort to address the balance between housing supply and demand.
David Finlay, Chairman of IMLA commented:
“I speak for each of the re-elected board by thanking IMLA members for their contributions this year and for offering the chance to continue championing the cause of intermediary lending into 2014. This vote represents a resounding show of confidence in IMLA’s current direction and the vital role it has to play in address the key issues that are emerging as the market resumes its growth.
“The return of consumer confidence promises to be an important legacy of 2013, but there is still a pressing need a longer term strategy. The market has changed dramatically in the last twelve months, but there is a long way to go to restore full health. Pressing decisions need to be made to protect the future balance of funding, regulation, house building and lending activity.
Peter Williams, Executive Director of IMLA, continued:
“A continuing focus on quality and professionalism will put the intermediary channel in pole position to support the upward trajectory of the market. With the Mortgage Market Review implementation and other challenges ahead, IMLA will continue to draw on the expert views of its diverse membership, which includes some of the most experienced figures in our industry.
“Working alongside our fellow trade bodies, we are committed to regular dialogue with government and regulators – both in the UK and in Europe – to ensure the path that emerges for both mortgage and housing markets steers us towards long term sustainability.”