Trevor James, area manager at Progressive Building Society, has taken over as chairman of the Council of Mortgage Lenders (CML) Northern Ireland.
James took over from previous chairman Derek Wilson, head of mortgages at Ulster Bank, at CML Northern Ireland’s annual lunch in Belfast.
Taking up his position, James warned that housing supply and affordability constraints were the biggest issues facing the Northern Irish housing market.
In recent years, Northern Ireland has seen rapid growth in house prices as concerns about terrorism have subsided, and the economy has improved as a result, driving up prices.
James says the CML is working with the Department of Social Development to help increase the availability of social housing.
“The CML has worked closely with the Department of Social Development to provide housing associations greater access to private finance,” he says.
“Whilst affordability remains the biggest issue, helping those people that are having difficulty with mortgage payments remain in their homes is perhaps of equal importance. The most important step for anyone who finds themselves in this position is to contact their lender as soon as possible; we will do what we can to assist you.”
CML Northern Ireland is made up of the 12 active mortgage lenders in Northern Ireland.
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