Speaking to Mortgage Solutions about the Intermediary Mortgage Lenders Association’s (IMLA’s) upcoming New Starters expo in Southampton in November, the organisation’s chair said the feedback on the events so far had been “really positive”.
The IMLA held its first expo in 2022, with eight events held since. The programme includes a “good mix” of presentations from professionals in the mortgage sector, sharing their personal journeys and diverse backgrounds.
He said the New Starters events were an opportunity for the IMLA to “promote and support new entrants into the marketplace”, targeting entrants to both the lender and advice professions while giving attendees a broad overview of the market.
“New talent is going to be the make or break of the industry. As a lender trade body, it’s really important for us to support the initiatives to encourage that,” Stinton added.
To register and find out more, click here: https://www.mortgagesolutions.co.uk/events/imla-conference/
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A sector-wide effort
The IMLA is also working with Working in Mortgages and the Association of Mortgage Intermediaries (AMI) on their newly launched Rising Talent Community, designed to connect entrants with peers for networking and mentorship opportunities.
While the IMLA represents lenders that conduct intermediated business, Stinton said the organisation’s work with the AMI and Working in Mortgages demonstrated its support for advisers and other ancillary firms.
Stinton said it was “crucial” for the organisation to support advisers, as “the mortgage market just wouldn’t function correctly without intermediaries giving the advice that they give, it’s the foundation of the whole system”.
He said the success of intermediary businesses impacted how well lenders did, so a well-functioning intermediary marketplace was key.
Showcasing all career opportunities
Stinton said financial services was a “hidden gem occupation”, making it challenging to attract talent as many did not know about the career until they started working in it, adding: “And when they join, it’s very infectious – you love the good times and the bad times. It’s a constant thing that needs attention.”
He described the industry as “really open, enjoyable, collaborative” and the event helped give a rounded view of what was happening in the market.
Stinton said people should know there were opportunities for work in the sector, regardless of their background.
When asked about ongoing support for new entrants to encourage retention, Stinton said supporting the IMLA’s members to nurture incoming talent would add value to the sector.
This can be done through internships and graduate programmes, Stinton suggested, as well as local community work, adding that they were “already doing a good job” at this.
“The mortgage market is so broad; we’ve had great presentations from building societies, valuers, tech firms, just to try and give a broad overview of what the market is, as it doesn’t have to be a linear career,” Stinton said.
The event also allows attendees to “meet like-minded individuals”, with the potential to form beneficial relationships and form new ideas.
“From the feedback we’ve had so far, people walk away from the event and have a fresh perspective on the mortgage market and feel inspired by some of the stories told by people who work in the industry,” Stinton said.
Stinton said that “new starters were important for a diversity of thinking and bringing new ideas and perspectives”, saying that without this, the sector risked “falling behind”.
The events can be beneficial to attendees at any stage in their career too, Stinton said, adding that “seasoned” professionals also enjoyed attending. He said professionals in the sector needed to make continual use of all the resources available to them, such as in-person events, webinars and reading trade publications such as Mortgage Solutions.
IMLA is also holding Career Progression webinars to complement the in-person events, which focus on how a professional can develop in different areas of their career.
The previous webinar sessions are available to watch on demand, while upcoming sessions will be held on 1 October and 4 December, on the topics Planning your progression: setting objectives, KPIs for your next promotion and Paths to progress: insights from mortgage industry trailblazers, respectively.
The organisation is developing future expos based on feedback from attendees to continue building momentum for new talent.
