View more on these topics

Rebel packagers bidding to sign up PMPA members

The rift between the Professional Mortgage Packagers Alliance and rebel packagers is set to widen after the splinter group said it wants to sign up more members.

The embryonic Alliance of Mortgage Packagers and Distributors has issued an open invitation to the 10 remaining PMPA members after splitting from the body due to what it calls the conflicts of interest of the PMPA having a stake in Unity Home Loans.

The AMPD, which will appoint a management team shortly, claims to have signed 12 PMPA packagers to its group, led by The Mortgage Partnership, and will meet next week to discuss how to attract more packagers.

It will not establish a common lender, as the PMPA did with Unity, and is drawing up contracts with 12 unnamed lenders to create a panel which could yet increase in size.

AMPD spokesman John Mawdsley, who claims AMPD firms generated 60 per cent of PMPA business last year, says: “If anyone from the PMPA shares our ethics of one member, one vote, equitable ownership and a not-for-profit ethos, they can join.”

PMPA operations direc- tor Jon O’Brien says: “We wish the AMPD well but will con- tinue as normal and Unity will remain in place.”


Butterfield Bank urges professional advisers to prepare for A-Day

Butterfield Private Bank is urging professional advisers to prepare for A-Day and has published a guide to help them prepare for the changes in April.The bank is asking advisers to review their clients needs to make the most of the new enhanced elements of pensions and consider the benefits of working together with independent Trustees […]

Bling it on

The metal gurus are predicting the gold price could double, says Matt Davis

BBB given 6 weeks to find capital before FSA shutdown

Berkeley Berry Birch has been given six weeks to plug the 11m capital adequacy deficits of two of its subsidiaries before the FSA shuts them down after dropping its appeal to the Financial Services and Markets Tribunal.BBB has announced it has withdrawn references to the FSMT against the FSAs decision in July to issue decision […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm