The Money Group has announced the launch of a new mortgage club in March.

A “new age” proposition, the group says that it aims to build a collaborative and community feel by “knocking down the walls” that it believes currently exist between brokers and lenders.

Director Martin Stewart says that it will be all about honesty and transparency as well as getting back to the basics of intermediation.

Director Scott Thrope says: “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 to 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.

“We will certainly be having some fun along the way which is something we need in a compliance heavy and arguably over-complicated process”.

Stewart adds: “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 club model greatly but were keen to see them evolve in line with a more modern, socially engaging future which is clearly were we are all heading as a society.”