Those of you who are fans of Frasier, the sitcom about an insanely pompous Seattle radio shrink, will probably be aware that for the past couple of years, the show has been sponsored by Equitable Life (RIP). Equitable's inkblot test intros were a bit tiresome, but they did create some sort of a brand identity for Equitable.

Now the Margin hears that First Active is taking over the sponsorship of Frasier, using it as a vehicle to promote its newly renamed Brittanic Money mortgage operation in the UK.

One wishes First Active well - after the Equitable Life debacle, this particular sponsorship has been dubbed "the curse of Frasier", so it looks like a brave move.

First Active/Brittanic Money will probably need all the help it can get from Frasier in the next few weeks.

The sponsorship was announced the very day that the Nationwide fired the first salvo in a British mortgage price war that could severely dent the margins enjoyed by mortgage lenders, including the smaller players like the First Active offshoot.