Four leading mortgage packagers have formed an alliance, known as Equis.

The quartet are All Types of Mortgages (AToM), Brightstar Financial, Complete FS and Solent Mortgage Services.

Their aim is to raise standards in the industry via a code of conduct.

During 2013 the four firms completed a total of £508.8m in lending.

Vic Jannels, chairman of AToM, said that while they were not looking for any other members in 2014, “never say never”.

Rob Jupp, CEO of Brightstar, stressed that the alliance was not for financial gain.

Robert Sinclair, chief executive of AMI and AFB, said: “AMI is very supportive of firms who want to raise standards by combining to focus on quality, ethical principles and supporting each other to develop good business practice. This has to be good for the consumer and for their intermediary and lender partners.”