The Intermediary Mortgage Lenders Association is in the process of electing a new leadership, with current chairman Tony Ward stepping down.
Ward, also chief executive of Britannic Money, has opted to step down following two years in the post. Seven unnamed nominations have been received for the posts of chairman, vice-chairman, and two additional management committee positions.
Nominees have been entered into a members' ballot and winners will be selected on a first-past-the-post basis, with the outcome due to be announced next week.
Ward told Mortgage Strategy: “I will not be putting myself forward for the chair for the next year. After enjoying being in the post for two years running it is a long time and it's time for someone else to be in the seat. No chairman has served longer than two years and it may be dangerous for the body to become too closely associated with a single figure.”
Ward added that regulation and the representation of the intermediary market would be the foremost issues facing the incoming chairman, who will take the post in January. IMLA's management committee drives forward issues such as intermediary representation or CP146 after consulting with members.
IMLA vice-chairman, former chairman and Paragon Mortgages managing director John Heron, refused to speculate on his position or that of the other posts but refused to deny his interest in the chairmanship again.