"His role is to ensure the crucial role played by the second charge industry is understood and represented."
Wheeldon will replace Marie Grundy who stood down at the end of last year after almost four years on the AMI Board.
The AMI says that as the mortgage industry continues to develop following MMR and the European Union’s Mortgage Credit Directive it "remains critical" that the first and second charge markets continue to evolve and work closely together.
Robert Sinclair, Chief Executive of the AMI, said: “The AFB membership has been conducting a contested election and I am delighted to advise that Tim Wheeldon of Fluent Money, based in Bolton, has won that election. His role is to ensure the crucial role played by the second charge industry is understood and represented. This will ensure that the issues faced by finance brokers are considered and reflected in key debates.
“We will continue to hold regular AFB member meetings to understand the issues confronting the sector and ensure all regulators hear first-hand the key messages. We urge all non-members to sign up to get their voice heard. A strong and effective trade body needs support from all parts of the industry in order to deliver improved standards.”
Tim Wheeldon added: “I am honoured and delighted that I have been chosen for this position on the AMI Board. I am passionate that the second charge sector is given the space it needs to be properly heard and also to grow. We have a way to go to ensure that intermediaries are fully aware of where and when they should be recommending a secured loan and I want to use my time on the Board to pursue an agenda which ensures that advisers have the facts to make an informed and confident recommendation for clients, as well as promoting the value of the second charge sector to government and regulators.”
