BSA commissions intergenerational mortgage study with Bob Pannell and Dick Jenkins
The Building Societies Association has commissioned a study into international mortgages led by two veterans of the mortgage industry.
Bob Pannell was an economist at the Council of Mortgage Lenders for nearly 27 years, though he left its successor UK Finance in December last year.
And Dick Jenkins was chief executive of Bath Building Society for 15 years until it was announced that he would step down in March this year.
Robin Fieth, chief executive of the Building Societies Association, said: “Inequality between the generations is a growing challenge in our society.
“I asked the BSA team what it might take to bring the average age of a first-time buyer down and importantly what we as a sector might do to contribute directly.
“Bob Pannell and Dick Jenkins will be exploring potential new ways for building societies to help the older generation support and broaden the housing choices of the young.”
Fieth made the announcement at the start of the BSA’s two-day annual conference in Manchester today.
He also used the opportunity to outline seven themes which should be on every building society board agenda.
These were: the structural shortage in housing and the need for decent homes for everyone; sustaining comparative advantage in an increasingly competitive world; funding and the consumer savings gap; digital technology, increasing processing capability and the implications; talent development and diversity; resilience, security and operational efficiency; and customer ownership and an engaged membership.
As well as the mortgage study he announced a follow up to the society’s 2017 report, Savings for the Future, commissioned by Toynbee Hall.