Rowntree (pictured) is UK mortgages director at the Bank of Ireland UK and will take on the role at the trade body from January.
Sard is managing director of Santander Mortgages.
The board is one of UK Finance’s specialist sector boards which discusses key issues facing the sector.
Rowntree was previously of one of the board’s two deputy chairs and he will be replaced in this role by Steve Hughes, chief executive of Principality Building Society.
Lloyd Cochrane, head of mortgages at RBS remains as the second deputy chair.
Busy year ahead
Jackie Bennett, director of mortgage policy at UK Finance, said: “It’s set to be another busy year for the mortgages product and service board particularly with the FCA’s final report in to the mortgage market due in the first quarter.
“Driving an agenda that continues to deliver good outcomes for consumers and raises standards in the sector are key objectives for the product and services board and Richard’s extensive experience of the industry will prove invaluable in helping us deliver these.
“I am also very grateful to Miguel Sard, who Richard succeeds, for his valuable contribution.”
Rowntree added: “Overall the mortgage market is in a good place and working well for many customers with innovation driving choice in currently under-served market segments.
“The UK Finance mortgages product and service board plays an important role in helping deliver positive results for customers across the UK and I look forward to taking on the role of chair.”