The Mortgage Works started to expand its sub prime offering at the end of 2006 and, following a successful pilot, has been growing its distribution channel through packagers. TMW has a range of highly competitive products that have been developed specifically with packagers in mind, as many brokers prefer the packager route for non conforming products.
The packager distribution strategy has been designed to allow TMW to access the largest portion of the market through a much smaller number of key contacts while benefiting from the packagers’ expertise in the sub prime market. The Mortgage Works Sub Prime range is designed to cater for a broad variety of applicants, including Full Status, Self Cert and Buy to Let loans, and five categories of adverse credit (Near Prime, Extra Light, Light, Medium and Heavy).
Rachel Bancroft, managing director of KGB Packaging said “The Mortgage Works provides a comprehensive range of mortgages via intermediaries, and is renowned for its innovation in the specialist mortgage market. We are delighted that we will now be able to offer the new range of TMW sub prime products, and we expect demand from our broker sources of business to be high.”
Paul Howard, Director of Intermediary Sales at The Mortgage Works, added: “I am pleased that KGB Packaging has added The Mortgage Works to its lender panel. Our sub prime products are only available to the top packagers in the UK and we would most certainly include KGB in that bracket.”
