Low cost home ownership 18 October 2016
The Caledonian Club,
London
Conference programme
Today’s programme 0900 – 0930 0930 – 0940
Registration Welcome and introduction Gavin Smart, Deputy Chief Executive, Chartered Institute of Housing
0940 – 1000
Introduction to low cost home ownership schemes Chris Walker, Director, ChamberlainWalker Economics
1000 – 1030
What have low cost home ownership schemes meant for lenders? Andrew Baddeley-Chappell, Head of Policy and Governance (Mortgages and Savings), Nationwide Building Society
1030 – 1050
CML’s research findings: Shared ownership Session one Ugly sister or Cinderella? John Marr, Senior Policy Adviser and Bob Pannell, Chief Economist, Council of Mortgage Lenders
1050 – 1120
Refreshments
1120 – 1140
CML’s research findings: Shared ownership Session two How does the shared ownership shoe fit? Anna Clarke, Senior Research Associate, Cambridge Centre for Housing and Planning Research
1140 – 1230 1140 – 1150
Starter Homes Introduction to the scheme June Deasy, Head of Policy, Council of Mortgage Lenders
1150 – 1230
Starter homes panel session Phillippa Cardno, Operations and Sales Director, Newbury Building Society Douglas Cochrane, Head of Housing Development, Lloyds Banking Group Cllr Keith House, Deputy Chair, Environment, Economy, Housing and Transport Board (EEHT), Local Government Association
1230 – 1330
2
Lunch
Low cost home ownership
1330 – 1420
Evaluating success
1330 – 1350
Help to Buy Mohammad Jamei, Senior Economist, Council of Mortgage Lenders What will the close of the mortgage guarantee scheme mean for the market? What measures have been used to evaluate the success of the scheme? Regional variations
1350 – 1420
Equity loan Andy Nelson, Help to Buy Equity Loan Team Leader, Homes and Communities Agency Profile of buyers, properties and geographical activity On-going work on the equity loan re-mortgage market and plans for the scheme to 2021 Challenges of the European mortgage directive and standard documentation
1420 – 1450
Delivery of low cost home ownership schemes Matthew Kershaw, Affordable Housing and Shared Ownership, Department of Communities and Local Government How do current schemes link together and where do they fit the Government’s housing agenda? Delivery challenges The issues of home ownership versus the Private Rental Sector
1450 – 1500
Closing remarks
1500
Conference close
@cmlevents #CMLlowcosthomes
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Speaker biographies Chair: Gavin Smart Deputy Chief Executive, Chartered Institute of Housing (CIH)
G
avin Smart is Deputy Chief Executive and Director of Policy and Practice at the CIH - the membership body for housing professionals in the UK. He leads CIH’s policy and good practice work, which aims to support the housing profession; influence government thinking; and shape housing and communities’ policy and practice at national, local and organisational levels. Before joining CIH he worked for the National Housing Federation as Assistant Director for Research and Futures, with responsibility for leading the Federation’s policy work on public investment in the housing association sector and the broader finance policy agenda, as well as leading the Federation’s research and analysis function. Prior to joining the Federation Gavin spent five years at the then Office of the Deputy Prime Minister, latterly heading up the high demand housing markets research team. He began his career as a researcher at the School for Policy Studies at the University of Bristol.
Andrew Baddeley-Chappell Head of Policy and Governance (Mortgage and Saving), Nationwide Building Society
A
ndrew Baddeley-Chappell qualified as a chartered accountant with EY in their London office, during which time he focussed on a financial services portfolio.
Since joining Nationwide in 1992, he has undertaken a range of roles within different elements of the Nationwide Group including internal audit, banking, life assurance, unit trusts, personal loans, savings, specialist mortgage and prime mortgages. Andrew is currently Head of Policy and Governance for Mortgage and Savings. He is the lead contact with trade bodies, government and regulators on housing, mortgage and savings matters, and a key spokesperson for the press and industry conferences.
Phillippa Cardo Operations and Sales Director, Newbury Building Society
P
hillippa Cardo has spent 27 years working in residential and commercial lending. In her current role, as Operations and Sales Director at Newbury Building Society, she is the Executive Director responsible for mortgage and savings strategy. Her remit comprises a wide portfolio including lending policy, underwriting and mortgage regulation, as well as sales, marketing, customer service and IT. Phillippa has become a specialist in Shared Ownership lending over the years and is a regular speaker at conferences on the subject.
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Low cost home ownership
Douglas Cochrane Head of Housing Development, Lloyds Banking Group
D
ouglas Cochrane has worked for the HBOS/Lloyds Banking Group for over 35 years in a variety of senior management positions and currently specialises in the new-build and affordable housing markets. He is vice-chair of CML Scotland, a director and board member of the Construction Licensing Executive and a member of the NHBC’s national council.
Anna Clarke Senior Research Associate, Cambridge Centre for Housing and Planning Research
A
nna Clarke is a Senior Research Associate who has been at the Cambridge Centre since 2004. Her research interests include housing need, homelessness, demand for social housing and low cost home ownership, worklessness and a growing area of work around welfare reform. She has recently published work for the National Housing Federation on the impact of welfare reform on the housing association sector, and has also recently completed work on youth homelessness for Centrepoint. Her current projects include an evaluation for the Department for Work and Pensions of the housing benefit reforms affecting social tenants, and a review of the role of poverty in housing organisations’ strategy for the Joseph Rowntree Foundation.
June Deasy Head of Policy, Council of Mortgage Lenders
J
une Deasy has sixteen years’ in-house and agency experience in strategic communications, public policy and public affairs, and has advised and briefed senior executives, politicians, government officials and other policy influencers at UK and international levels. Her work has included developing and promoting policy for high profile multinationals in the financial services, energy, retail and transport sectors; housing sector organisations; trade associations and global professional bodies.
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Cllr Keith House Deputy Chair, Environment, Economy, Housing and Transport Board (EEHT), Local Government Association
K
eith House has been Liberal Democrat Leader of Eastleigh Borough Council in Hampshire since 1994. He is Leader of the Opposition at Hampshire County Council. On the regional stage, Keith was the Chair of the South East England Regional Assembly and a Board Member at SEEDA and is now a Board member of the Homes and Communities Agency (HCA) nationally. He has chaired various Local Government Association bodies and is now a Deputy Chair of the EEHT Board, and is a passionate advocate of localism and devolution. In 2014, Keith co-led a national review on local authorities’ role in increasing housing supply announced in the 2013 Autumn Statement for Treasury and Department for Communities and Local Government and published in January 2015. He has subsequently jointly set up the Housing and Finance Institute, a key review recommendation, and is its Senior Independent Director. Keith is also a Town Councillor, a Board Member of Barton Peveril College in Eastleigh, and an honorary member of the Royal Town Planning Institute. He has extensive experience supporting emerging democracies in eastern Europe and the Caribbean and as an election observer in the republics of the former Soviet Union and central Asia.
Mohammad Jamei Senior Economist, Council of Mortgage Lenders
M
ohammad Jamei began working at the CML in 2014, and is currently a Senior Economist. Mo is responsible for writing the CML’s monthly market commentaries, as well as published statistics on arrears and possessions. He also writes interesting and thought-provoking articles for the CML website. Prior to this, he worked for HM Treasury as a civil servant, on topics relating to the housing market
Matthew Kershaw Affordable Housing and Shared Ownership, Department for Communities and Local Government
M
atthew Kershaw is the policy lead for the Shared Ownership and Affordable Homes Programme 2016-21, with responsibility for shared ownership and rent to buy policy. His role involves advising Ministers on policy and low cost homeownership product design, programme delivery by HCA, negotiation of London Settlement and stakeholder engagement on issues surrounding shared ownership and the building of new affordable housing. Matthew has worked on a variety of policy and finance roles in the Department of Communities and Local Government (DCLG) and Cabinet Office for the last nine years, including recently coordinating the housing input to the Spending Review 2015.
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Low cost home ownership
John Marr Senior Policy Adviser, Council of Mortgage Lenders
J
ohn Marr works with lenders on social housing policy, as well as the mortgage markets in Wales and Scotland. In the past, he was an adviser to the Local Government Association, where his policy remit included housing issues, including the Private Rented Sector.
John studied Law at the University of Aberdeen, and trained and worked as a conveyancing solicitor in Scotland before moving to England 12 years ago.
Andy Nelson Help to Buy Equity Loan Team Leader, Homes and Communities Agency
A
ndy Nelson leads Homes and Communities Help to Buy equity loan team. He has been working on development and programme management of Government equity loan products since 2005.
Bob Pannell Chief Economist, Council of Mortgage Lenders
B
ob has worked for the CML since 1990 and is a member of its senior management team. As Chief Economist, Bob has overall responsibility for the economics, statistics and research work of the organisation. This involves producing a diverse range of analysis and commentary for CML publications, member organisations and the media. He works closely with other teams to ensure that the CML’s policy and PR work is underpinned by rigorous, clear and relevant analysis. Before joining the CML Bob held a variety of economist positions in financial services, industry and government.
Christopher Walker Director, ChamberlainWalker Economics
C
hris Walker is Co-Founder at ChamberlainWalker Economics, an economics consultancy specialising in housing. He was Head of Housing at Policy Exchange, where he authored The Homes London Needs, Garden Villages (with Lord Matthew Taylor) and Freeing Housing Associations. Prior to Policy Exchange, Chris was a Senior Economic Adviser in the Government Economic Service. His civil service career spanned 12 years across departments including HM Treasury and Department for Communities and Local Government (DCLG) – he worked on a number of high-profile projects including DCLG’s affordable housing Spending Review bid and the Right to Buy policy. Chris has an MSc Economics from York University and BA Economics from Reading University.
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Low cost home ownership
Delegate list Andrew Baddeley-Chappell
Head of Policy and Governance (Mortgages and Savings) Nationwide Building Society
John Bagshaw
Corporate Services Director Connells Group
Dan Barker
Product Manager Cambridge Building Society
Davinia Beer
Senior Product Manager Precise Mortgages
Phillippa Cardno
Operations and Sales Director Newbury Building Society
Anna Clarke
Senior Research Associate Cambridge Centre for Housing and Planning Research
Douglas Cochrane
Head of Housing Development Lloyds Banking Group
Michael Conville
Head of Mortgage Operations Newcastle Building Society
Steven Cook
Product Manager - Mortgages Virgin Money plc
Louise Davies
David Glancey
Andy Nelson
Aiden Hall
Bob Pannell
Sean Hanson
David Randall
Grant Hendry
John Scally
Amanda Hewitt
Ian Selwood
Andrew Heywood
Tracy Simpson
Keith House
Gavin Smart
Product Manager Clydesdale Bank plc Assistant Mortgage Product Manager OneSavings Bank Senior Product Manager Leeds Building Society Regional Business Development Manager Atom Bank Development Manager Sovini Group Consultant Andrew Heywood Consulting Deputy Chair EEHT Board, Local Government Association
Mohammad Jamei
Senior Economist Council of Mortgage Lenders
Christopher Johnson
Senior Mortgage Product Manager Principality Building Society
Matthew Kershaw
Development Manager Sovini Group
Affordable Housing and Shared Ownership Department for Communities and Local Government
June Deasy
John Marr
Jack Fitzpatrick
Nicholas McAlpine-Lee
Head of Policy Council of Mortgage Lenders Research and Strategy Analyst London & Quadrant Housing Trust
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Senior Policy Adviser Council of Mortgage Lenders Chief Executive OfďŹ cer Heylo Housing Ltd
Help to Buy Equity Loan Team Leader Homes and Communities Agency Chief Economist Council of Mortgage Lenders Product Governance Manager OneSavings Bank Marketing Risk Manager Leeds Building Society Head of Mortgage Underwriting Saffron Building Society Head of Lending Cambridge Building Society Deputy Chief Executive Chartered Institute of Housing
James Tatch
Analytics Manager Council of Mortgage Lenders
Chris Walker
Director ChamberlainWalker Economics
Peter Williams
Departmental Fellow, Department of Land Economy University of Cambridge
Warren Wright
Technical Services Director Connells Survey & Valuation
Jenna Yeap
Statistics Assistant Council of Mortgage Lenders
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Council of Mortgage Lenders 9
Low cost home ownership
Research findings
T
oday’s event hopes to encourage your firm to take a fresh look at shared ownership. Shared ownership has been around for more than 30 years. It is a relatively small part of the housing market - about 200,000 households currently live in shared ownership homes – but the government has eased eligibility criteria and has ambitious plans for the sector to grow rapidly over the next few years. So why are so few firms actively lending on shared ownership? Product complexity is part of the answer. Lack of decent data is another issue. And lenders rely on good relationships with housing associations to address a few awkward legal aspects.
Shared ownership: ugly sister or Cinderella?
Notes
10
Cambridge researchers offer 14 recommendations that will help to improve matters and attract more lenders in. You decide if shared ownership is ugly sister or Cinderella! View the full report: www.cml.org.uk/news/cml-research
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www.cml.org.uk/events T: 0845 373 6771 E: events@cml.org.uk
Council of Mortgage Lenders
www.cml.org.uk/events T: 0845 373 6771 E: events@cml.org.uk @cmlevents #CMLlowcosthomes
Council of Mortgage Lenders