LSL Property Services has set up a new packager called The Mortgage Processing Centre, which is headed by the group’s director of mortgage services David Copland.
Targeting specialist lending, the packager will be available to appointed representatives of First Complete and Pink, estate agency advisers in Reeds Rains and Your Move and directly authorised advisers in TMA and the Pink Club.
It will help brokers to deal with niche mortgage cases such as houses of multiple occupancy, multiple buy-to-lets, high-net-worth buy-to-let and semi-commercial lending.
The Mortgage Processing Centre has six lenders on its panel: Buckinghamshire Building Society, GE Money Home Lending, Kent Reliance, Magellan Homeloans, Precise Mortgages and Shawbrook Bank.
Copland says: “There is a growing need for a good-quality packager which really knows the mortgage market. As more lenders enter the market with increasingly innovative products, it makes it harder for advisers to deal competently with every mortgage request that comes to them.”
London & Country associate director of communications David Hollingworth says: “It was not too long ago that packagers were expected to become a thing of the past but this new launch has to be a sign they have a role to serve in a resurgent market, especially in specialist areas.”