From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to for wider content and updates from UK Finance.


18 October 2016

Time: 9:00am – 3:00pm
Venue: The Caledonian Club, London
Price: £385 members
£385 associates
£505 non-members
Low cost home ownership

About his event

This event explored the successes, challenges and future of the latest low cost home ownership schemes. The CML also reported on its latest research project on shared ownership and discussed the latest developments in starter homes.

This event was aimed at lenders involved with low cost home ownership schemes, or are interested in how they will affect their business and the UK mortgage market. 

Topics covered at the event included:

  • Ugly sister or Cinderella? The latest industry research on shared ownership
  • Starter Homes and what it means for lenders
  • Evaluating the success of Help to Buy
  • The realities of implementing low cost home ownership schemes

Key takeaways from the event:

The main challenges in today’s housing market are:

  • not building enough homes
  • falling home ownership rates

High-level government policy objectives are to

  • increase housing supply
  • promote home ownership

The problems that government policy is trying to solve are:

  • Low housing supply levels
  • Supply issues - planning constraints, development risk
  • Demand issues -  economic recovery
  • Falling homeownership
  • Rising home prices to earnings
  • For first time buyers, lack of deposit

Home prices vary more than earnings and there is a wide variation in house price to earnings ratios regionally. This is also seen at the local authority level, where markets are highly localised.

There is a clear North/South divide:

Help to Buy Equity Loan / Mortgage Guarantee is:

Very prevalent in the north (90% of schemes) and least prevalent in London (only 30% of schemes)

Shared ownership is:

Very prevalent in London (30% of schemes), reasonably prevalent in the South East (20%) and residual in the north (<10% schemes)

Right to Buy is highly prevalent in London.

*This event was closed to press*


0900 - 0930  

Registration and refreshments

0930 – 0940  

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


CML's research findings: Shared ownership session 1

(1030 – 1050)  

Ugly sister or Cinderella?
John Marr, Senior Policy Adviser and Bob Pannell, Chief Economist, Council of Mortgage Lenders

1050 – 1120  



CML's research findings: Shared ownership session 2

(1120 – 1140)   How does the shared ownership shoe fit? 

Anna Clarke, Senior Research Associate, Cambridge Centre for Housing and Planning Research

1140 – 1230  

Starter Homes

(1140 – 1150)  

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  


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 in Government’s housing agenda?
  • Delivery challenges
  • The issues of home ownership versus the PRS
1450 - 1500  

Chair's closing remarks

Confirmed speakers

Chair: Gavin Smart

Deputy Chief Executive, Chartered Institute of Housing (CIH)

Gavin 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, Nationwide Building Society,

Andrew 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

Phillippa 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. 



Douglas Cochrane

Head of Housing Development, Lloyds Banking Group

Douglas 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

Anna 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.

Her research skills include qualitative research and focus groups, as well as survey research and statistical analysis.

June Deasy

Head of Policy, Council of Mortgage Lenders

June 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.





Cllr Keith House

Deputy Chair, Environment, Economy, Housing and Transport Board (EEHT), Local Government Association 

Keith 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 Economy, Environment, Housing and Transport 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 CLG 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

Mohammad 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

Matthew 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 9 years, including recently coordinating the housing input to the Spending Review 2015. 

John Marr

Senior Policy Adviser, Council of Mortgage Lenders

John Marr

John 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

Bob Pannell

Chief Economist, Council of Mortgage Lenders

Bob Pannell

Bob Pannell 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

Chris 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.

The Caledonian Club

9 Halkin St


Nearest tube station: 

Hyde Park Corner (Piccadilly lines)

Victoria (Circle, District and Victoria lines)

Nearest overground stations:




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Telephone: 08453736771