THE chief executive of Leeds Building Society, Peter Hill, has been named chairman of the Council of Mortgage Lenders for 2016.
Mr Hill, who takes over from Royal Bank of Scotland’s Moray McDonald, has spent 14 years at Leeds Building Society, and has led the organisation for the last four years. He is also currently chairman of the Northern Association of Building Societies
“We are set for another big year in the mortgage industry,” he said. “The Mortgage Credit Directive takes effect from the end of March; the Financial Conduct Authority is embarking on an examination of competition in the mortgage market; significant tax and likely regulatory changes are being introduced in the buy-to-let sector. And we are determined to keep up momentum on our collaborative approaches to improve retirement lending and mortgage cost transparency; these have great potential to benefit both consumers and lenders.
“As incoming chairman, my dual aims for the year are to ensure that any organisational change does not detract or distract from our normal focus on services and representation in the short term, and that any change is for the benefit of all CML members in the long term.”
The Council of Mortgage Lenders’ members are banks, building societies and other lenders who together undertake around 95% of all residential mortgage lending in the UK.
