Packagers continue to perform an important role in the UK mortgage market, despite recent market problems, according to The Mortgage Business (TMB).
A survey of packagers, commissioned by TMB, found the number of mortgages being packaged by respondents has fallen by 8% over three months, from 232 to 214.
Furthermore, three out-of-ten packagers claimed they handled an average of between 101 and 200 cases each month, with a broad spread of business among other respondents.
David Murphy, sales and marketing director at TMB, comments: “What the results show is that the role of packagers is still a very important area for brokers and will continue to be so. The product sectors that are being packaged might well change but the proposition provided by packagers is obviously still highly valued.”
He says packagers are demonstrating that they are innovative and flexible enough to adapt to the changing market conditions and will continue to weather the credit crunch.
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