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Homeloans has announced today that its chairman Timothy Holmes died over the weekend.
Mr Holmes was a founding director of the non-bank lender. He and fellow industry entrepreneur Rob Salmon established IF&I Securities in 1990, which was the predecessor to Homeloans.
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Mr Holmes had been chairman of Homeloans since 2003 and was a substantial shareholder of the company.
He once said in an interview that starting Homeloans was his most important career event, calling it "a momentous career move".
Mr Salmon hailed Mr Holmes as a "giant in the mortgage industry".
"He had a true passion for the business, was a great communicator and he was an inspiration to so many people who have worked in our company over the past 30 years," he said.
Mr Holmes is survived by his wife, Carol, his three daughters, Joanna, Tiffany, Lucy.
One of Homeloans' independent directors, Robert Scott, has been appointed as the new chairman.
[Related: Homeloans continues recruitment drive]
