Director at Lloyds appointed Chairman of CML

Director at Lloyds appointed Chairman of CML

Stephen Noakes, the mortgages director of Lloyds Banking Group, has been appointed chairman of the Council of Mortgage Lenders.

He will start at the beginning of January, taking over from Nigel Terrington, chief executive of the Paragon Group of Companies, who has been chairman for the last year.

Stephen Noakes joined Lloyds Banking Group in 2007, when he was appointed marketing director for Cheltenham & Gloucester. He then took responsibility for mortgage business when Lloyds TSB merged with HBOS.

Earlier in his career, he worked for the telecommunications company Vodafone, and in the food and banking sectors.

Stephen Noakes said of his appointment: "I am looking forward to working closely with CML members and others, in what will be a crucial year as the industry seeks to ensure that continuing recovery delivers benefits to consumers and the wider economy.

“In stepping up to the post, I would also like to thank Nigel Terrington for his significant contribution over the last year.

"The industry’s prospects are encouraging, but there are significant challenges ahead. We will be working for a smooth transition to the new mortgage rules in April, and the smooth integration of the new European directive.

“We will also be seeking to ensure that Help to Buy delivers sustainable benefits, and that we have a longer-term strategy for moving out of the scheme in a way that does not disrupt the market."

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