The Association of Mortgage Intermediaries’ director general Chris Cummings will take over the day to day running of the organisation, which has had to reduce its cost base as a result of current market conditions.
Cummings says: “Part of our recent internal review was a look at our cost base.
“Like many others in the mortgage industry, we need to reduce costs and ensure resources are focused on the areas that will have most impact for our members.”
He adds: “Richard has brought a wealth of experience and professionalism to the association, and we are very sad to see him leave. We wish him well in his future endeavors.
“We will continue to address the key regulatory and political issues and speak out more loudly on key market concerns such as the debate surrounding dual pricing.”