UK Finance has appointed Bank of Ireland’s Richard Rowntree as the new chair of its mortgages product and service.
Rowntree, UK mortgages director, Bank of Ireland UK, will replace outgoing chair Miguel Sard, managing director of mortgages at Santander, in January 2019. And Steve Hughes, chief executive, Principality Building Society, will now sit alongside Lloyd Cochrane, head of mortgages, RBS as deputy chair.
Jackie Bennett, director of mortgage policy, UK Finance, said: “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 product and services 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.”
The UK Finance mortgages product and service board is one of UK Finance’s 10 specialist sector boards which brings together senior industry figures to discuss key issues facing the sector.
Rowntree previously held the position of head of specialist banking for Williams and Glyn (RBS) as well as senior mortgage roles with Santander, Lloyds and Halifax.
Rowntree added: “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.”
Steve Hughes, chief executive at Principality Building Society, said: “As chief executive of a mutual organisation I feel I can bring a different perspective to the mortgages product and service board, providing insight and strong support to Richard, Jackie and the Board on the mortgage agenda across the UK.”