Mortgage Times has revealed to Mortgage Introducer the key services and support packagers will be given under its UPA umbrella. Its association is looking to appeal to small and satellite packagers who are finding it hard to compete in the marketplace because of the monopoly larger packagers have over the intermediary sector.
Services provided by UPA include packagers being able to build their own network and keep the packaging rights for their lenders; help in becoming a ‘super packager; access to the Mortgage Times’ direct-to-lender club; white-label compliance support; soft packaging facilities; satellite processing; access to wholesale valuation; access to a ‘state-of-the-art’ packaging IT system (to be introduced in the near future); access to full general insurance products and access to white-labelled Home Information Packs (HIPs). Membership to UPA is also free for the first six months.
Christopher May, director of The Mortgage Times Group, said: “I feel we can make a difference in this area and feel we have the infrastructure to catapult UPA into the biggest distributor of mortgages in the UK. The only difference here would be that everyone contributing to its success will be new or evolving entrepreneurial organisations that want to grow.”
Vic Jannels, group managing director of All Types of Mortgages (AToM), commented: “We’re pleased to see groups coming together for the benefit of the industry. However, looking at the detail available so far, it does appear to be more about growing a network than individual packager support. But I trust the UPA will be happy to have open conversations from time to time to further cement the position of packagers in the marketplace.”
