“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
Tel: 0207 427 1422 / 29 / firstname.lastname@example.org
Notes to Editors
The Intermediary Mortgage Lenders Association (IMLA) is the trade association that represents mortgage lenders who lend to UK consumers and businesses via the broker channel. Its membership unites 43 banks, building societies and specialist lenders, including 16 of the top 20 UK mortgage lenders responsible for more than £180 billion of annual lending.
IMLA provides a unique, democratic forum where intermediary lenders can work together with industry, regulators and government on initiatives to support a stable and inclusive mortgage market. Originally founded in 1988, IMLA has close working relationships with key stakeholders including the Association of Mortgage Intermediaries (AMI), UK Finance and the Financial Conduct Authority (FCA).