Incumbent Peter Williams has revealed plans to step down from his role at the end of 2017 after spending over a decade at the firm.

Following his departure, Peter will continue with his own housing and mortgage research work, as well as remaining as a non-executive director for Vida Homeloans.

Kevin Purvey, chairman of the IMLA, said: “Peter will depart from IMLA on the very best terms at the end of the year, having been instrumental in its growth and performance over the past decade as the market has recovered from recession.

“Both IMLA’s directors and Peter feel that it is important to have an executive director in place who will take responsibility for leading the organisation for the next five years at least.

“I would like to thank Peter for his unwavering commitment to the interests of IMLA, its members and the broader mortgage market over the last decade.”

During Peter’s tenure, IMLA membership rose to a post-recession high of 34 different lenders.

His decision to leave was motivated by a mutual feeling that the IMLA would benefit from fresh thinking and a new executive director to steer the organisation through the next five years and beyond.

“I feel that given all I have done over the past decade, and the considerable changes facing the market, it is sensible to step down and let IMLA appoint someone who can lead them through the next five years,” Peter explained.

“The role is a great opportunity for someone looking to have a highly influential role in the industry, and to be a voice for the sector in some of the most important policy and commercial debates in the mortgage market.”

The IMLA is now interested in hearing from candidates with a strong track record in the mortgage market, and the ability to lead the organisation through an important period in its development.