MT Finance Becomes a Full Member of IMLA

Posted by MT Finance on 18th January 2023 -

We’re so pleased to announce that MT Finance have become the latest full member of the Intermediary Mortgage Lenders Association (IMLA). With a combined total of 69 members, IMLA represents mortgage lenders who lend to UK consumers and businesses via broker channels and it is a real honour to now be a part of this.

 

Marylen Edwards, Head of Lending BTL, comments:

“It’s a pleasure to join the ranks of IMLA as a full member. 2023 poses a range of macroeconomic challenges for the mortgage market, making collaboration between lenders to address these issues all the more vital. We are really looking forward to contributing to the discussions held by IMLA over the coming year, bringing our own expertise in the specialist lending space to the table.

 

Kate Davies, Executive Director of IMLA, added:

“We’re delighted to welcome MT Finance as the latest full member of IMLA. As a provider of specialist lending across first and second charge mortgages, they can bring a distinct perspective to our discussions, including how we tackle some of the challenges facing the mortgage market today. We look forward to working together.”

 

Founded in 1988 as the Association of Mortgage Lenders (AML), it was incorporated into a trade body later that year with the aim of representing the interests of the new centralised lenders emerging in a rapidly changing and expanding mortgage market. The need for an even more inclusive trade body became increasingly obvious after Abbey National Building Society became a bank in 1989. The Building Societies Association (BSA) – which Abbey National had been a member of – subsequently joined forces with the AML and a number of other trade bodies and associations to form the Council of Mortgage Lenders. This industry-wide organisation covered both traditional and newly-formed lenders and insurance companies who were active in the mortgage market.

By 1995 the AML had changed its name to its current iteration, the Intermediary Mortgage Lenders Association. Its current membership of 53 banks, building societies and specialist lenders include 18 of the 20 largest UK mortgage lenders (measured by gross lending) and account for about 90% of mortgage lending (91.6% of balances and 92.8% of gross lending).