The mortgage lending industry in the UK needs to pull together to benefit the housing market’s long-term health, it has been claimed.
Martijn Van der Heijden, chairman of the Council of Mortgage Lenders (CML), called on the sector to place greater emphasis on quality and innovation to better serve its customers.
Speaking at the CML annual lunch, Mr Van der Heijden explained there should be a focus on boosting confidence among consumers, with providers being more honest and transparent to those they serve.
The industry figure stated: “We need to be clear about what we provide and how we provide it … we need to make a true cultural shift from a sales culture to a service culture.”
His comments come after the economic downturn shook up a market that had stepped away from its customer relationship responsibilities and looked towards commoditised sales.
Mr Van der Heijden added the industry needs to be brave when it comes to doing right by customers, explaining the sector should not default to ultra conservatism by constructing a safety buffer on capital or conduct.
