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LIA targets loan advisers as it aims for professional status

The LIA is aiming to attract mortgage brokers into its fold as it moves towards being a true professional association.

The association previously concentrated on tied salespeople and IFAs.

Mortgage advisers presently make up about 1,200 of the 20,000 LIA members. Director general Mark Ommanney says there are tens of thousands of loan advisers who would benefit from LIA membership.

He says mortgage advisers have the Association of Mortgage Intermediaries but are lacking a professional body. He says LIA initiatives such as its mortgage assess training and compliance offerings are attracting mortgage advisers into the fold.

The association will be consulting with members on changing its name in the next year and is looking for a new chairman who will be responsible for the LIA&#39s strategic direction.

Ommanney says: “With regulation drawing closer, mortgage advisers will need representation, direction and leadership in the same way as other advisers. We have been lobbying on mortgage issues for the past 10 years and we are building a very strong value proposition for mortgage advisers.”

AMI director Chris Cummings says: “We hope to see what the LIA is doing as complementary to us. They are very clearly going down the path of a professional body and we are going down the path of a trade association.”

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