6 August, 2008
Solent Mortgage Services (SMS), which has been reappointed to the new panels for Platform, Kensington and Money Partners in the last few days, believes that lenders have had to reassess the value of packagers and due to changing market conditions are looking for far more than most packagers can deliver.
Ian Balfour, sales & marketing director at SMS, said: “Clearly the credit crunch has had a huge effect on lender appetite. Effectively, business numbers, while important, now take second place to the cost effective delivery of business in a way that mirrors the lender’s own commitment to the regulatory regime.
“The partnership between packager and lender has to operate on a different level now and apart from the obvious need for business throughput, only those packagers demonstrating that they can operate effectively, both in terms of cost/efficiency and the increasingly important emphasis on helping lenders ensure that customers have been treated fairly at all the stages of the mortgage, will make it in future.”
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