The Association of Mortgage Intermediaries is looking to create a “consumer-facing identity” to promote the benefits of taking mortgage advice to the public.
Speaking to Money Marketing at the Mortgage Business Expo in London last week, Ami chief executive Robert Sinclair revealed he wants to launch a kitemark which brokers can use to promote themselves that will give consumers assurances about the quality of advice on offer.
Sinclair said: “During 2013 we will be looking to develop a consumer-facing identity for mortgage brokers which will allow consumers to identify brokers that can look across the market and can deliver good mortgage advice.
“We have not got the budget for an advertising campaign, so we are going to do a large PR-type campaign. We will look to get members on board and then target the national newspapers to promote advice and the services brokers offer.”
The trade body launched its first consumer campaign in June 2011 in conjunction with Legal & General Mortgage Club by commissioning research focusing on buyers’ mortgage habits.
At the time, Ami and L&G promoted the research through national newspapers with the hope of publicising the advantages of using brokers.
The trade body wanted to launch a national newspaper and television advertising campaign with lenders to promote the value of advice but with an overall cost of between £2m and £5m, lenders were unwilling to fund it.
Emba Group sales and marketing director Mike Fitzgerald says: “This is very good news and is much needed. Consumers need to be told about the benefits of taking advice when taking out a mortgage.”