With reports showing mortgage activity is beginning to improve modestly in the last few months, the market is showing some signs of benefiting from greater access to funding and the various stimuli put in place by the Government and the Bank of England.
That the mortgage market has been seeing increased activity is a direct result of lenders engaging with intermediaries and their clients right across the lending spectrum, and we have been seeing steadily increasing competition among products and providers.
This commitment to the market was strongly evident at IMLA’s Annual General Meeting on 22 November when the newly elected executive board was announced.
This year there was an unprecedented level of competition for places on the IMLA board.
In order to accurately represent the intermediated lender market, it is vital that IMLA considers a range of perspectives.
For the first time this year the IMLA chairman comes from a mainstream retail bank, with David Finlay assuming the role alongside his work as managing director for the intermediary channel at Barclays UK Retail and Business Bank. Ably assisting him as deputy chair will be Charles Haresnape, managing director of residential mortgages at Aldermore and one of two IMLA board members from specialist banks.
Looking forward to 2013 the onus is on IMLA to build on recent achievements and continue our efforts to nurture growth, innovation and choice in the market place.
In its present form, the association now collaborates with a wide spread of lenders from across the intermediary market. Active engagement with businesses, industry and policymakers is at the heart of what we do, and we are fortunate to draw on the vast direct experience of our members to guide that work. Bring on 2013!