Mustoe Merriman Herring Levy has won the pounds 5 million task of
launching the Money Store, a US home equity lender which will open its
doors in the UK in the summer. Optimedia has picked up the media
planning and buying task, beating three unnamed agencies.
Lowe Howard-Spink, Duckworth Finn Grubb Waters and TBWA Simons Palmer
were all approached about the creative work, which aims to roll out in
July. A below-the-line agency will be appointed in due course, with a
separately allocated budget.
In the US market, the Money Store services around dollars 16 billion of
loans and spends more than dollars 100 million on advertising. Its aim
is to dominate the credit-impaired mortgage market in the UK, providing
loans for the one-in-four people who cannot obtain mortgages from
The focus of the work has yet to be announced but it will be heavily
weighted towards television.
Gavin Brady, the managing director of the Money Store, said: ’Mustoes
has been briefed to provide us with a national brand identity with a
view to becoming the leader in the UK specialist mortgage market.’
’This is our biggest win yet,’ Nick Mustoe, the chief executive of
Mustoes, said. ’The Money Store’s success in the US has been in using
TV, and that’s the model over here,’ he added.