The Money Group (TMG) are launching a new mortgage club with the aim of ‘knocking down the walls’ that they believe exist between brokers and lenders.

The new club will be launched under the existing TMG brand but will be labelled ‘Your Club’.

Scott Thorpe, director of The Money Group, said: “We have been working on this for some time now and getting feedback from lenders and brokers as to how they would like to see a new club look.

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“The general feedback seemed to indicate that both parties wanted to get closer to each other to help understand each others role better.

“In the process of closing that gap we hope to be able to build something that the industry will be proud of and with our new managing director starting in a few weeks it will also offer great engagement.

“We will certainly be having some fun along the way which is something we need in a compliance heavy and arguably over-complicated process.”

The club already has a number of lenders signed up with more expected in time for the official launch in March.

Martin Stewart, director of The Money Group, added: “The industry is still learning how to cope with what has happened to all of us in the past 12 months.

“Speaking with the lenders we sensed they wanted something else, something different in order to help them market more effectively to intermediaries.

“From the brokers, we learned that they valued the clubs model greatly but were keen to see them evolve in line with a more modern, socially engaging future which is clearly were we are all heading as a society.”