IMLA and CML to tackle individual registration
Charles Haresnape, managing director of residential mortgages at Aldermore and deputy chair of IMLA, said one of the initiatives high on the 2013 agenda was finding a way to get individual registration off the ground in partnership with the CML.
Haresnape said: “Everyone wants individual registration and there was a lot of disappointment when it was put on hold by the Financial Services Authority.
“IMLA and the CML are now going to work together to try and find another way of implementing individual registration led by the trade bodies from within the industry rather than the regulator.”
IMLAs other major focus will be to work with members to get them ready for the implementation of the Mortgage Market Review in 2014.
He said: “I’m looking forward to being able to support David Finlay in his new role as IMLA chairman while we tackle the challenge of ensuring members are prepared to comply with the new rules.”
And maintaining IMLAs position as a highly respected trade body also ranks high on Haresnape’s list of priorities.
He added: “Just a few weeks ago the Bank of England requested a meeting with IMLA to get its opinion on the mortgage industry and various schemes currently in place. When the Bank of England asks to see you it clarifies how highly it rates IMLAs experience and the diversity of the new board of directors will reinforce and improve the view we are able to offer.”
John Heron, managing director of Paragon Mortgages, was re-elected as a director on the IMLA board where he will sit alongside Richard Tugwell, director of intermediary sales at Virgin Money, and Kevin Purvey, head of intermediary sales at Coventry Building Society.