Mortgages plc says there is an emergence of a new breed of super-packagers‚ who are starting to dominate distribution in the non-conforming mortgage market.
These companies include organisations such as Solent, Advance Home Loans, The Finance Centre, Enterprise, Deep Blue, Em Financial, Pink Home Loans, Optoma, The Mortgage Times, Oxygen Home Loans and Opus.
Mortgages plc suggest brokers take note of this change in mortgage distribution and, if they do deal with small regional packagers, ensure they are in good financial shape. Packagers who go out of business could result in brokers losing-out on fee income which was due to them.
Sales and marketing director Peter Beaumont says: “These companies have invested heavily in technology, staff, training and have forged close working relationships with leading networks and, as a result, are starting to dominate distribution in the non-conforming sector. The larger packagers have proven they have been able to adapt their business models to a regulated market and have not only been able to survive, but thrive. The new breed of Œsuper-packagers‚ have not increased the size of the non-conforming sector, but they are taking a larger slice of the business which is available. This will inevitably lead to some consolidation taking place.”