IMLA comments the proposed financial services trade body merger
Peter Williams, Executive Director of the Intermediary Mortgage Lenders Association (IMLA), comments on today’s report from the Financial Services Trade Association Review:
“Today’s recommendation sets out a persuasive case in the face of significant practical challenges to retain existing trade body structures and focus, while consolidating and enhancing the collective voice of the UK financial services industry.
“As a democratic interest group with a ‘one fee, one vote’ policy for all members, IMLA provides a unique forum focused on intermediary mortgage distribution, at modest cost, without seeking to replicate the ‘full-service’ trade body offer. Feedback from members is that they benefit individually and collectively from having a dedicated group for those who specialise in the intermediary market, where lenders of all sizes can exert an influence.
“We are grateful for the review’s acknowledgement of IMLA’s current position. We have open and constructive working relationships with our fellow trade bodies where there are mutual interests and members, and we trust this will continue as the landscape evolves.”
For further information please contact:
Maham Uzair / Will Muir, Instinctif Partners
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NOTES TO EDITORS:
The Intermediary Mortgage Lenders Association (IMLA) is the specialist trade body representing the interests of lenders who market their products primarily through brokers, rather than direct or through a branch network. IMLA provides a unique opportunity for senior industry professionals to meet on a regular basis to discuss key current initiatives and contribute actively through IMLA and other forums, such as the Council of Mortgage Lenders.
IMLA was formed in 1988 as the Association of Mortgage Lenders and was instrumental in the creation of the CML. It changed its name to IMLA in 1995. Subsequently IMLA helped bring the Association of Mortgage Intermediaries (AMI) into being and was instrumental in bringing the mortgage advisers qualification CeMAP to fruition. More information can be viewed at the IMLA website