Brokers and packagers have been promised greater support from the Intermediary Mortgage Lenders’ Association, which has admitted that it has so far failed to represent its members adequately in the market.
Former Council of Mortgage Lenders’ deputy director general Peter Williams was appointed Imla executive director last September, and he promises that the trade body will become more vocal in the mortgage market and address its members’ concerns and those of intermediaries.
Williams says two of the main aims of the organisation are to work more closely with the Association of Mortgage Intermediaries and to help foster better relationships between lenders and packagers.
He is supportive of the formation of a packager trade body and while he does not rule out Imla fulfilling that role, he suggests it is unlikely. Instead, Imla will look to work with packager associations and AMI on that front.
Williams says: “We intend to up the ante this year. We want to do more and we are already doing more. We are a small trade body but we want to be effective. Compared with the CML, which has 36 staff, Imla has its membership plus people that provide services as well as their day jobs so it is a very small body. Never has the time been more important for Imla because of the strength of the intermediary position. We want to work more closely with AMI and more within the packager industry.”
AMI associate director Rob Griffiths says: “It makes sense for Imla to work more closely with us and that perhaps has not been the case in the past but we have had more discussions since Williams came in and we are talking about more concrete projects.”