Mortgage market receives new vote of confidence from IMLA despite renewed uncertainty

The Intermediary Mortgage Lenders Association (IMLA) has issued a vote of confidence in the UK mortgage market, as its new chair, Jonathan Stinton, used his first keynote speech to call on the industry to embrace change and work collectively to support more people into homeownership.

Speaking at IMLA’s annual lunch in London, Jonathan acknowledged that recent geopolitical developments, including the conflict in the Middle East, have created fresh uncertainty around the outlook for interest rates.

Despite this, he emphasised the strength of the market and its ability to adapt, pointing to a strong recovery in lending activity since the post-Truss turmoil as evidence of that resilience.

He noted that, in 2025, gross mortgage lending rose 19% year-on-year to £288 billion, with house purchase lending up 18% and remortgaging up 20%. Buy-to-let lending remained broadly stable despite higher taxation, additional stamp duty and the Renters’ Rights Act.

"These are not just figures; they represent families moving, landlords adjusting, buyers returning with confidence and advisers supporting them through uncertainty," he said.

He added that the fundamentals underpinning the housing market remain strong: "We have seen demand rebalance, credit quality remains resilient and, critically, the fundamentals of homeownership in the UK remain as strong as ever."

Looking ahead, Jonathan described the industry as being at a pivotal moment, shaped by rapid advances in technology and evolving regulation.

"Busy times, and I believe we now stand at a fascinating crossroads," he said.

He highlighted the growing role of data, automation and digital integration in improving customer outcomes, while also warning that innovation must be matched by strong governance around issues such as cybersecurity and AI fairness.

In terms of regulation, Jonathan added that the industry "must work together to ensure regulation supports competitiveness, not conformity." 

He also reinforced the importance of collaboration between lenders and intermediaries, stating his belief that "this is a moment of opportunity."

Finally, Jonathan concluded with a call to action for the industry: "Let’s embrace technology with urgency and rigour, not fear. Let’s invest not only in innovation but in the security and ethics that underpin it. Let’s strengthen and galvanise our relationships with regulators. And let’s lead, not follow, in shaping how homeownership is financed in the UK."