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Analysis: The CML is offering a platform for your bright idea

Paul Smee

In 2009, unemployed computer programmer Brian Acton failed at job interviews for Twitter and Facebook. Not fazed, he took advantage of the new Apple app store and created a messaging service application, WhatsApp. Five years later he sold it to Facebook for $19bn. 

With the right platform to realise an idea, individuals can thrive and create influential products of real value. The Council of Mortgage Lenders wants to provide just such a platform. Last month we launched our second annual Rising Stars competition, in which anyone can submit a proposal to improve any part of the mortgage industry.

Last year Leeds Building Society’s Michael Rhodes won with his Mortgage Builder idea: a young person’s savings account scheme opened exclusively to save for a home deposit. 

He presented his plan at our conference, the idea took off and a few months later the Government launched the Help to Buy Isa.  

This year for a more open competition, we call on anyone with an industry-improving idea, big or small – lender, broker, journalist, student or retiree – to enter. Details are on our website. 

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