Days before launch, London-based mortgage broker Park Row Independent Mortgages (PRIM) was forced to rethink and redesign the branding for its regulatory support package, which became The Mortgage Partners.
The Mortgage Partnership (TMP), was extremely keen to distinguish its own regulatory proposition, purely for brokers seeking directly-authorised status, from PRIM’s support services launched last week.
John Mawdsley, director of TMP, said: “I am mystified as to why any firm, especially one that is fully aware of our position in the market, should use a name which will lead to confusion at a time when clarity and transparency are of paramount importance.”
Kevin Paterson, director, PRIM, said: “When it became apparent that another mortgage firm traded under the name, we took the comments on board and decided to change the brand. But lets be honest, there are so many firms in the mortgage industry that sound similar to eachother, I don’t really know what all the fuss is about.”
