Mortgages  

The Money Group to launch mortgage club

The Money Group to launch mortgage club
 Credit: Joe Giddens/PA Wire

Financial services company The Money Group (TMG) has announced it is launching a mortgage club in March.

‘Your Club’ will launch under the existing TMG brand with the aim of bringing brokers and lenders closer together.

Scott Thorpe, director of The Money Group, said: “We have been working on this for some time now and getting feedback from lenders and brokers as to how they would like to see a new club look.

“The general feedback seemed to indicate that both parties wanted to get closer to each other to help understand each other's role better.

“In the process of closing that gap we hope to be able to build something that the industry will be proud of and with our new managing director starting in a few weeks it will also offer great engagement.”

The club is looking to launch with a preferred panel of both lenders and brokers initially and has already signed up a number of lenders, with more expected in time for its official launch in March.

Martin Stewart, director of The Money Group, said: “The industry is still learning how to cope with what has happened to all of us in the past 12 months. Speaking with the lenders we sensed they wanted something else, something different in order to help them market more effectively to intermediaries.

“From the brokers, we learned that they valued the clubs model greatly but were keen to see them evolve in line with a more modern, socially engaging future which is clearly where we are all heading as a society.”

Mr Stewart added they were probably able to comfortably launch with 100 advisers, but were not looking to exceed a figure of 200 to avoid diluting unique selling points.

chloe.cheung@ft.com

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