West One Loans joins IMLA

The body now has 43 member banks, building societies and specialist lenders, with Legal & General Home Finance the last institution to join earlier this year.

Last week IMLA warned that non-bank lenders, who are highly active in the specialist lending sector, needed government support or were at risk of being unable to support forbearance schemes such as mortgage payment holidays.

It is one of a group of trade bodies to have proposed various solutions to the government and Bank of England to support non-bank funding as the capital markets have all but closed.

Working through this difficult time

West One Loans managing director for buy to let Andrew Ferguson (pictured) will represent the lender at IMLA’s executive committee meetings. He said the firm was very pleased to be joining the association.

“As new members of IMLA we look forward to working alongside the IMLA team, its members and partners through a very difficult time and into the years beyond,” he said.

“We are excited to share knowledge and expertise and are totally committed to supporting the mortgage intermediary market across our varied product range.”

IMLA executive director Kate Davies, said the body was pleased to be adding West One to its membership.

“These are certainly highly unusual times for the mortgage market in light of the disruption caused by coronavirus, but IMLA is continuing to grow and now represents 43 lenders from across the sector,” she said.

“From second charge mortgages to development finance and buy-to-let, West One Loans will bring a wealth of experience and knowledge to the association as our members work together through the current crisis and beyond.”