edeus plans to drop its dual pricing model and allow any packager registered to edeus to access its core product range. Packagers that commit to certain business volumes will receive additional benefits, including exclusive products and marketing support.
Terry Pritchard, consultant at Case Consultancy, said: “The edeus management realises how important packagers are to the market and is giving packagers a chance to look at what we’re doing and then have the choice to take it further. We remain focused on those quality packagers that support us.”
Packager alliances have welcomed edeus’ reappraisal of the market. Eddie Smith, director of operations for the Alliance of Mortgages Packagers & Distributors, commented: “It seems to be going the whole mile to secure distribution from packager groups. It has massive growth plans, so it has to embrace the packager model.”
Jon O’Brien, operations director for the Professional Mortgage Packagers Alliance, said: “It’s not surprising edeus can’t ignore packagers, but I think there will always be a suspicion on the packager front because it has not been seen as ‘packager-friendly’. It will have to work hard to get our trust, though I won’t prejudge a lender. If you’re going to embrace margin lending, you have to embrace packagers.”
