The Mortgage Times Group has revealed it will be the founding member of a new packager association.
The United Packagers Association (UPA) says it aims to help small packagers grow and do more business, as at the moment, the smaller firms along with satellite packagers are finding they are being squeezed out of the marketplace.
The Mortgage Times Group says it will offer members access to marketing, compliance and IT facilities, as well as a panel of lenders, and it will also negotiate exclusive deals with lenders that smaller packagers might not otherwise have been able to secure.
UPA says it hopes to group to as many as 50 small packagers and satellite packager firms. The Group adds it is currently in discussions with packagers about joining the association, which will be free to all new members for the first six months.
Christopher May, director of The Mortgages Times Group, says unlike other packager associations comprised of smaller firms, UPA will hold sway in the market because of its founding member’s reputation in producing volume business in the industry.
He adds anyone joining UPA will have the benefit of being able to compete with larger packagers on an even playing field, as UPA is also putting together a package which will see them able to grow secured distribution through a strategy that has been tried and tested since M-Day.
“We are continuing to secure distribution through our AR Network and a lot of lenders are keen to work with us, with technology which should further enhance our proposition,” says May.
Vic Jannels, managing director of All Types of Mortgags and a member of the Professional Mortgage Packagers Association (PMPA), welcomed the annoucement saying: "Any organistaion that brings together groups of people that can yhave influence in the market is welcome."
But he also warned that whether UPA would have the same level of influence as those packager groups already established depended would depend on the level of distribution it could achieve.
Meanwhile Peter Charge, director of sales and marketing at The Mortgage Business, says after the PMPA split and the birth of Association of Mortgage Packagers and Distributors, the news that another packager association will join the crowd will undoubtedly create some healthy competition in the market. “There has been some discussion about whether there is room in the market for other packager association. Packagers need a voice to represent them and UPA looks to create that voice for the smaller packagers. It is yet to be seen whether several voices can adequately represent them all. I suspect they will if the focus is on adding value and providing the best possible service for their members," he adds. “TMB will continue to support packagers and we look forward to seeing how we can work with any new packaging associations.”IFAonline
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