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Imla wary of Euro directive threat

Paragon group director of mortgages John Heron has been re-elected as chairman of the Intermediary Mortgage Lenders Association.

Last week, Imla announced that Heron will chair its 2011/12 executive board, with Home Funding chief executive Tony Ward re-elected as deputy chairman.One Savings Bank director Peter Williams stays as executive director. New directors include Aldermore Mortgages managing director Charles Haresnape, Northern Rock head of sales Richard Tugwell and Barclays intermediaries managing director David Finlay.

Williams says Imla has made significant strides in 2010/11 with members developing a range of new solutions for owner-occupiers, buy-to-let landlords and for those who have experienced economic hardship. He says: “We are proud of what Imla members have achieved.

Despite continuing difficulties in the market, they continue to deliver value and innovation to consumers, helping provide access to homeownership for those who may have struggled to buy and providing landlords with the finance to buy homes for rent for those who cannot or do not want to buy.

“Many challenges remain for Imla. We are yet to see the output of the MMR and the Government’s aut-umn statement on housing policy. We are also concerned about the EU dimension and the potential the directive has to derail the pro-gress that the FSA has made and introduce a new level of uncertainty and cost.”

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