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NAMBA to represent brokers in 2002

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  • 10/08/2001
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The broker and packaging communities may soon have access to a new trade body which aims to be an um...

The broker and packaging communities may soon have access to a new trade body which aims to be an umbrella organisation, representing the entire broker community at a national level.

The National Association of Mortgage Brokers and Advisers (NAMBA) plans to launch in January 2002 when it will aim to provide members with a nationally recognised mark of excellence, through a single representative voice.

A recent survey carried out by NAMBA among 160 brokers found that 90% wanted an organisation to represent them at a national level, and seven out of 10 respondents said they would like to play an active role in pushing the body at a local level.

Julian Jennings, chief executive of NAMBA, said: ‘Between now and January we will be entering a further period of consultation where members and sponsors will discuss the remit of the organisation. The intermediary market has got a poor reputation in certain sectors due to the actions of a small number of brokers, but we aim to accept only the best brokers, who are the vast majority anyway. We want membership to be a sign of quality, almost like a kite-mark, and part of this will involve a campaign to educate consumers.’

The association plans to have a strong campaigning edge and anticipates being a key representative voice when it comes to government consultation and regulatory change. At the moment, the body is in discussions with a number of other trade bodies. The Council of Mortgage Lenders (CML) has been receptive to its establishment in theory, but is cautious about offering its full support in the early stages.

Sue Anderson, head of external affairs at the CML, said: ‘We would welcome any body such as this in principle. With the ongoing dialogue concerning regulation it is important for brokers to have a single representative voice. It could bring many benefits to brokers and make it easier to have a cohesive dialogue with the decision makers, just as the CML is useful for the lender sector.’90% of advisers want an organisation to represent them at national level

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