Platform reduces panel

The decision follows a standard ongoing review to measure and evaluate the effectiveness of its business partner relationships and means that going forward, the company will now trade with sixteen packaged business partners only.

Jason Berry, Platform’s Head of Sales said: “Due to the ongoing conditions in the market, Platform has a limited volume of funds to lend. In order to ensure we are not exceeding this limit, we need to carefully manage distribution. By working with a smaller number of our packager partners who provide the best overall quality of business, we hope to be in a position to manage volumes more effectively whilst providing an increased level of focus and support.

“Platform acknowledges the important role that packagers play in the mortgage market and is fully committed to offering its intermediary partners the choice of submitting business directly as well as via a packager. Whilst this is a regrettable decision, I believe it is the right one to make to ensure that we can continue to serve the needs of our customers.”