The TMB packager index revealed an 8.2 per cent increase in the volume of business being handled by packagers. The research revealed that the average number of mortgages currently being packaged by respondents’ companies reached 184 per month – a rise from the 170 reported three months ago.
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Almost one-third packaged more than 200 mortgages every month while 20 per cent of respondents handled between 21 and 200 cases every month. Only 9 per cent packaged 20 or fewer mortgages each month.
Non-conforming was highlighted as a major area for packagers, as nearly one-third reported that more than half their cases were of this type. The average proportion of all mortgages packaged by respondents showed that non-conforming accounted for 35 per cent of the average workload, while 31 per cent catered for self-certification, 21 per cent for buy-to-let, 9 per cent for mainstream, and 1.5 per cent for self-build.
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Nigel Payne, managing director of TMB, said: “These figures show the importance of the non-conforming sector in achieving success. Areas such as self-build still lag behind when assessing business volumes. It will be interesting to see if this area picks up in the future as the pressure on housing stock increases.”
Payam Azadi, head of marketing at The Mortgage Times Group, said: “The market is evolving but the growth in distribution is a key area.”
