The Council of Mortgage Lenders has appointed Nigel Terrington as its new chairman.
Terrington, who is chief executive of The Paragon Group of Companies, a specialist buy-to-let lender, replaces HSBC head of retail products Martijn Van der Heijden, who has held the position since August 2011.
Terrington has been Paragon’s chief executive since June 1995, having served as its treasurer and finance director after joining in 1987. He has previously been chairman of the Intermediary Mortgage Lenders Association and has been deputy chairman of the CML since August 2011.
The CML has appointed two deputy chairmen – Lloyds Banking Group commercial director for mortgages Stephen Noakes and Royal Bank of Scotland head of mortgages Moray McDonald – to support Terrington.
Terrington says: “The mortgage industry is now slowly starting to emerge from its period of difficulty, despite the underlying economic conditions. One of my key objectives will be to ensure that we harness the expertise that exists within the industry to help build a successful and sustainable market of the future, and also to assure the wider market – and mortgage customers – that lenders really are open for business.
“I am keen to continue to develop existing relationships with regulators and work with them in adapting to new regimes, ensuring that the mortgage lender’s voice remains heard.”