Fallon McElligott and Manning Gottlieb Media have won the £7 million Netmortgage account and are preparing an advertising campaign to run in the summer for the on-line mortgage broker.
Netmortgage.co.uk is owned by Savills plc, the owner of a chain of estate agents and an off-line mortgage broker -- both of which count among the largest of their kind in the UK.
Mark Chilton, the managing director of Netmortgage, said: "I believe that the internet presents great opportunities for re-inventing brands. The online brand will be our first initiative into the mainstream."
Savills' personal finance and estate agents divisions are both upmarket brands, but Netmortgage -- which received more than a million hits in its first month -- plans to compete with mainstream brands such as Charcolonline and e-loan. All three companies compare deals from different lenders and help customers to make the right choice of mortgage.
"Netmortgage looks very different and offers unparalleled on-line decision support." Chilton says. "Ours is the first of the second generation sites. We and John Charcol are the biggest off-line mortgage brokers and we are likely to dominate the on-line sector too."
Chilton claims that Netmortgage covers all lenders in the UK with just one exception -- Sainsbury's. "They can't have much confidence in their product," he says.
Savills already works with MGM and asked the media agency to recommend a pitch list of creative agencies for Chilton to consider. The list included TBWA as well as Fallon McElligott.
Robert Senior, a managing partner at Fallon, said: "Netmortgage offers a lot of creative possibilities."