UK Finance has announced the appointment of Bank of Ireland mortgages director Richard Rowntree as the chair of its mortgage product and service board, on which he has served as deputy chair since December 2017.
He will replace Santander managing director Miguel Sard, who has held the role since February this year.
Rowntree has worked in the mortgage industry since 1991, and has held senior positions at RBS, Santander, Halifax, and Lloyds.
In a further move, Principally Building Society chief executive Steve Hughes has been appointed as one of the board’s two deputy chairs, the other held by RBS head of mortgages Lloyd Cochrane.
UK Finance director of mortgage policy Jackie Bennett says: “It’s set to be another busy year for the mortgages product and service board, particularly with the FCA’s final report in to the mortgage market due in the first quarter.
“Driving an agenda that continues to deliver good outcomes for consumers and raises standards in the sector are key objectives for the [the] board and Richard’s extensive experience of the industry will prove invaluable in helping us deliver these. I am also very grateful to Miguel Sard, who Richard succeeds, for his valuable contribution.”
Rowntree adds: “Overall the mortgage market is in a good place and working well for many customers with innovation driving choice in currently under-served market segments. The UK Finance mortgages product and service board plays an important role in helping deliver positive results for customers across the UK and I look forward to taking on the role of chair.”
Hughes comments: “As CEO of a mutual organisation I feel I can bring a different perspective to the product and service board, providing insight and strong support to Richard, Jackie and the board on the mortgage agenda across the UK.”