The independent alliance aims to strengthen registered members bargaining positions and overcome obstacles from differences like the alternative legal and valuation systems in Scotland. The alliance has also already secured £100,000 worth of funding for exclusive prime and specialist products and has registered 400 members.
Colin McCallum, a regional chairman for AMI Scotland, is working on the project with Kevin Friend, former general manager for The Mortgage Operation (TMO) Scotland.
MIAS is offering members a variety of services, all of which ‘favour Scottish-based processing’, said Friend, including a partnership agreement with regulatory support firm, Compliance 1st.
MIAS also has a strategic alliance with the Chartered Institute of Bankers in Scotland (CIOBS), which will be offering members a continuous professional development programme. Mortgage administration company, Opus are supporting the launch and Adventi, the Scottish IT support company are offering members a free IT health check.
Friend added: “Mortgage lenders are keen on this initiative. There’s a lot of business up here and with few lenders able to accommodate the different legals and valuations, those who wish to can approach us for advice on how to get their products to market.”
