The quantity of sub-prime lending received through Mortgage Next’s specialist packaging facility has increased by 60% year on year.
Commenting on the move, Justine Tomlinson, marketing director, said: “There has been a lot of focus on the value of a packaging facility during 2002. We believe sub-prime remains a complex sector, and there is a place for an expert service to be provided directly from the lenders in addition to the many benefits of a packaging service. We are aiming to provide our members with the ultimate choice in the sub prime market.”
The new Direct 2 Source service enables introducers to send applications direct to a panel of four sub-prime lenders, including Kensington Mortgage Co and Platform. Introducers will retain the same level of procuration fees and customers will benefit from a £250 refund on select products.
