GHL reorganises packaging arms
Previously, the network had three different arms to its packaging panel, which included franchises, satellite packagers and licences. But this has now been streamlined so The GHL Group’s packagers are classified as appointed representative (AR) packager partners and directly authorised (DA) packager partners.
John Smith, sales and marketing director at GHL Group, explained: “This change in the structure to our packaging network proposition is intended to add clarity to the choice available to potential new members. At the same time, it ensures we are providing both our existing AR and DA packaging partners with the level of service they require. For AR packaging partners who have the infrastructure and the appetite to grow their businesses, the GHL Group proposition has provided the resources and the facilities for them to do this.”
The reorganisation is aimed at providing additional benefits to its AR packagers, with firms allowed to secure their own distribution, given access to GHL’s online decision-in-principle (DIP) and its panel of 16 lenders.
Both arms, however, have access to GHL’s packaging website, with real-time case tracking, lender and product information for both the branded and packaged panels, procuration fees and management information. It is hoped that the move will help provide a better service for clients and packager partners.
The move is part of an ongoing expansion within the company since Genesis Home Loans and Guaranteed Home Loans merged last year. But it also comes at a time when a number of mortgage lenders and networks are shuffling their packager panels.
Commenting on the move, John Mawdsley, director of the Mortgage Partnership, said: “Consolidation could be a natural progression for packagers within the mortgage industry and reorganisations would be a part of this.”