View more on these topics

Imla reports a pre-tax profit after loss in 2011

The Intermediary Mortgage Lenders Association made a £30,361 pre-tax profit in the 12 months to 30 June 2012 following a round of cost cutting, after suffering a £12,549 loss the year before.

The trade body cut its costs by 25 per cent from £82,973 at 30 June 2011 to £61,492 at the end of June, while revenue from subscriptions increased 36.6 per cent from £45,000 to £61,500.

Net assets increased 25 per cent from £110,839 in June 2011 to £138,605 in June this year and cash reserves increased from £159,632 to £176,179.

The trade body’s accounts say: “With increased membership and further control of costs, Imla has moved back to a financial surplus in 2011/12.”


Letters to editor MS 480

Letters to the editor

Mortgage Strategy’s cover feature on payday loans last week was a good article but a couple of points were overlooked: 1. Any lender that is automatically turning down a borrower if they have had a payday loan is going to, or should be getting into trouble with the FSA. There is a requirement to judge […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]


News and expert analysis straight to your inbox

Sign up