The Council of Mortgage Lenders (CML) has appointed Jon Pain as its chairman and John Maltby as its deputy chairman.
Pain, managing director of Cheltenham & Gloucester since May 2003, succeeds Nationwide Building Society’s Stuart Bernau as chairman, while Maltby, chief executive of the Kensington Group, becomes deputy chairman.
Pain started his career with Lloyds TSB in 1974 and since then has held various management roles, including managing director of Lloyds TSB Insurance.
Commenting on his appointment Pain says: “The rest of this year is set to be a challenging one for the mortgage industry. Over the next 12 months the Financial Services Authority (FSA) will review the mortgage conduct of business rules (MCOB), and we hope this will establish whether the rules are delivering the intended consumer benefits.”
Pain says the industry will also be working with the government and other stakeholders to build the infrastructure needed to deliver home information packs (Hips), which are due to be launched in June next year.
He adds: “And in October we will see the launch of a shared equity scheme between the government and mortgage lenders – an important step to getting more first-time buyers onto the property ladder.”
The government and regulatory bodies will continue to pay a key role in shaping the operating environment for lenders in 2006, says Pain, and the CML will be working for “as coherent a policy approach as possible” and to avoid unnecessary, costly and time-consuming intervention.IFAonline
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