Lloyds TSB's Malloch succeeds Jim Dunn of the Scottish Building Society
The Council of Mortgage Lenders (CML) Scotland has appointed Iain Malloch, head of mortgages for Lloyds TSB Scotland, as its new chairman.
He succeeds Jim Dunn of the Scottish Building Society.
Malloch joined the TSB in 1983 and has been head of mortgages for Lloyds TSB Scotland for the past five years.
He has worked in a variety of positions within Lloyds Banking Group, including head of mortgage sales, business development manager and bank manager.
As new CML Scotland chairman, Malloch said he comes into the role just as the Scottish mortgage market is showing “signs of improvement”.
Malloch said: "Despite challenging conditions in the housing market in Scotland, as in the whole of the UK, we are seeing pleasing signs of an improvement for borrowers including the recently announced Scottish mortgage indemnity scheme.
“I am pleased to be able to lead CML Scotland through the rest of what should be an interesting year for the mortgage industry."
The Council of Mortgage Lenders' membership is made up of banks, building societies and other lenders who provide 94 per cent of all residential mortgage lending in the UK.
Latest mortgage lending figures published by CML Scotland show the number of home purchase mortgage loans agreed last year fell by seven per cent to 44,500 with remortgaging rising by 18 per cent to 36,900 loans.
The CML estimates there are 11.2 million mortgages in the UK valued at more than £1.2 trillion.