The Mortgage Intermediary Alliance Scotland will launch its proposition to mortgage intermediaries in Scotland today at a presentation in Edinburgh to over 100 guests.
The alliance, established to raise the profile of mortgage intermediaries in Scotland, aims to establish a Kite Mark, revealed in Mortgage Strategy magazine for the first time this week, which it is hoped will soon be associated with professional service giving consumers the assurance they seek.
Colin McCallum, a regional chairman for AMI Scotland, has worked on the project with Kevin Friend, former general manager for The Mortgage Operation Scotland.
The MIAS proposition is strengthened by an alliance with Opus, the Glasgow-based mortgage administration company, and Adventi, the Scottish IT support company, who are offering MIAS members an exclusive service.
Jim Spowart, director of Adventi, says: “This alliance is good for Scotland. With regulation being introduced in October it is vital IFAs are given support in order to maximise their business opportunities.
“Compliance and security of customer data is also a major issue.”
The alliance is also supported by Compliance First, one of Scotland's prominent compliance companies which will help implement compliance policies and issues under FSA regulation.
McCallum says: “By creating an alliance, our members will be able to address and resolve issues.
“The alliance can use its collective influence to work to improve awareness with both lenders and the public.
“Enquiries from the public will be given to members.”
And Kevin Friend adds: “We are delighted with the support from lenders.
“£100m of funding has been agreed for exclusive prime and specialist lending products to be launched in May.”
Mortgage Strategy understands that Future Mortgages has been in talks with representatives of MIAS for some time.
The Chartered Institute of Bankers Scotland is also working with the alliance to provide continuous professional programmes for members.
MIAS expects up to 1,000 mortgage intermediaries to register by November 2004 with 400 already registering an interest.