Packagers deny claims that prime business has damaged profits

Mortgage packaging companies deny they are sacrificing profitability by trying to grow too fast. Sub-prime specialists The Finance Centre said packagers were increasingly abandoning traditional sub-prime and non-conforming sectors for the prime market in an effort to increase company turnover, but this had not necessarily led these companies to increase their profitability. The Finance Centre reached its conclusion through examining 117 limited company packagers that posted annual accounts at Companies House. The search revealed 70% of companies recorded an increase in turnover dur...