Two mortgage industry PR directors have joined forces to set up a new body to promote the value of advice.
The Mortgage Market Alliance has been founded by Rob Griffiths and Alex Hammond who have both have worked in public relations for mortgage firms for over a decade.
Griffiths was also associate director of the Association of Mortgage Intermediaries.
The pair insist that the Alliance is not a trade body, but will seek to “promote the UK mortgage industry, raise awareness and understanding among consumers about the range of options available, and highlight the importance of advice”.
They say the organisation will be “a collaborative new voice for the mortgage industry” promoting independent advice to a diverse range of customers.
All members will be listed in a directory on the website.
It will soon be announcing an executive chair who will be the main spokesperson.
Mortgage Market Alliance director Alex Hammond says: “We know there are millions of people across the UK who either don’t know where to turn to get a mortgage or don’t even try because they believe their circumstances rule them out of consideration, and so there is an urgent need to promote greater understanding of the market and the benefits of professional advice to the people who matter – consumers.”
Fellow director Rob Griffiths says: “We have spoken to a large number of people across the industry who share the opinion that the market as a whole could be doing more to educate and inform consumers about the depth and breadth of product options available and how best to access all it has to offer.
“The FCA recently introduced rule changes that encourage the execution-only channel, but for many consumers, having access to the right advice and the right lenders for their circumstances will always remain the best way to secure the most appropriate mortgage.
“So, at the MMA, we will be very clear about the importance of professional advice as the best route for consumers to access all that the market has to offer.”
He adds: “The MMA isn’t a trade association – it’s an alliance of lenders, intermediaries, and all other interested stakeholders, who can combine their resources and amplify the voice of the mortgage market.”
