You are here: Home - News -

Stephen Noakes elected as CML chair

by:
  • 18/12/2013
  • 0
Stephen Noakes elected as CML chair
Stephen Noakes, mortgages director at Lloyds Banking Group, has been elected as the next chair of the Council of Mortgage Lenders.

Noakes will replace Paragon chief executive Nigel Terrington who has chaired the organisation for the last 12 months.

He will take up his new position at the start of January.

Noakes was previously a CML deputy chair and has worked for Lloyds Banking Group since 2007. Initially working on the Cheltenham & Gloucester brand he took responsibility for the Lloyds TSB mortgage business when the firm merged with HBOS.

Moray McDonald, interim managing director of products and marketing at the Royal Bank of Scotland will continue in his role as deputy chair while Andy Gray, managing director of mortgages and retail lending at Barclays, will also serve as a deputy chair.

Noakes said: “I am looking forward to working closely with CML members and others, in what will be a crucial year as the industry seeks to ensure that continuing recovery delivers benefits to consumers and the wider economy. In stepping up to the post, I would also like to thank Nigel Terrington for his significant contribution over the last year.

“The industry’s prospects are encouraging, but there are significant challenges ahead. We will be working for a smooth transition to the new mortgage rules in April, and the smooth integration of the new European directive. We will also be seeking to ensure that Help to Buy delivers sustainable benefits, and that we have a longer-term strategy for moving out of the scheme in a way that does not disrupt the market.”

The CML will also make changes to its membership structure in January. The trade body will introduce a membership category for third party mortgage administrators (TPA). The CML said this move would help it better reflect the current structure of the mortgage market.

HML will be one of the firms in this category and chief executive officer Andrew Jones said he was pleased the CML were recognising the sector.

“I am delighted that the CML has invited HML to join as a TPA member. The third-party mortgage administration sector plays an important role in today’s financial industry, and to be recognised by a prestigious industry association such as the CML is testament to this.

“This new membership will allow us to provide even more thought-leadership, as well as take part in further key debates on topics that are a priority for lenders both next year and beyond.”

There are 0 Comment(s)

You may also be interested in