The Association of Mortgage Intermediaries (AMI) is making changes to its structure at the turn of the year.
Firstly, its current chairman, Lord Deben, will become president. He will still take an active role in the management of the association, attending board meetings and assisting in representational activity.
Secondly, the AMI Board has decided that it should have a chairman elected from within its board. Following the recent election process, Patrick Bunton, of London & Country, will be taking up this position with effect from 1 January 2013.
He has been deputy chairman for four years.
Fellow deputy chairman, Stephen Smith of Legal & General, has been on the board of AMI since its inception almost 10 years ago and has held the position of deputy almost as long. Prior to the election Smith decided to take a step back after the work in bringing AMI to full independence. However, he will remain an active member of the AMI Board.
Finally the Board is looking to add to its working knowledge of the market by adding two new practitioner members. These should be individuals within member firms or networks who spend more than 75% of their working week advising on mortgages.
AMI will welcome enquiries from any practitioner who would like to take up one of these roles.
Lord Deben, said: “During 2012, I have been impressed by the strength, unity and purpose of the AMI Board. Now is the right time for it to continue to develop. I am delighted to be taking on this new role, where I will provide continuity, input and be able to support delivering a better housing and mortgage market for Britain and consumers.
“A vibrant housing market is essential to economic recovery and AMI has a strong role to play in building confidence and ensuring consumers have access to funding.”
Patrick Bunton added: “An effective AMI is an important part of ensuring we have a robust mortgage market in the UK. In taking up this role I am determined to work on behalf of the wider industry and all our members to ensure that politicians and regulators are alive to the real issues and the fact that brokers deliver great outcomes for consumers.
“I am looking forward to working with the executive team and our new President to deliver a better market for intermediary firms. Although Stephen Smith is stepping back at this time I know that I will continue to be able to call on his expertise.”