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CML announces reshuffle

The Council of Mortgage Lenders has announced the appointment of Jon Pain as chairman for 2006.

Pain, who is managing director at Cheltenham & Gloucester, is joined by Kensington Group chief executive John Maltby as deputy chairman.

Pain, who succeeds Stuart Bernau, 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 will review the mortgage conduct of business rules and the industry will be working with government and other stakeholders to build the infrastructure for Hips.

In October we will see the launch of a shared equity scheme between government and mortgage lenders.

“As before, the government and regulatory bodies will continue to play a key role in shaping the operating environment for lenders in 2006 and beyond.

We will be working for as coherent a policy approach as possible and to avoid unnecessary, costly and time-consuming intervention. I look forward to working with the CML to develop a mortgage market that meets the needs of lenders and consumers.”

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