This association is looking to appeal to smaller Packagers in the marketplace. Small Packagers including Satellite Packagers are finding that they are being squeezed out of the market and UPA has been set up with the sole aim of helping Small Packagers to grow and do more business.
The Mortgage Times Group will offer members access to its marketing, compliance and IT facilities, and panel of lenders. It will also be able to negotiate exclusive deals with Lenders that smaller packagers might not have otherwise been able to secure.
Christopher May, director of The Mortgage Times Group, comments: ‘Unlike other packager associations comprised of smaller firms, UPA will hold sway in the market because of The Mortgage Times Group’s reputation as producing volume business in the industry. We, like a lot of Smaller Packagers, are privately owned and I feel because of this we have a great synergy with our smaller counterparts. Anyone joining UPA will have the benefit of our offering immediately enabling them to compete with large packagers on an even playing field. We are 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.’
May adds; ‘I believe that Packagers have a big future in the marketplace. For example, The Mortgage Times Group has seen improved growth year on year over the last 4 years. 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.’
It is hoped that UPA will shortly consist of as many as 50 small Packagers and Satellite Packager firms. The Group is currently in discussions with packagers about joining the association, which will be free to all new members for the first 6 months.
