Confidence throughout the packager market rose in Q4 2006, according to research by the lender, with respondents identifying a continuing strong position and growth in their business (21 per cent) as the single thing which they were most positive about concerning the future. This was followed by the improved quality and use of technology (13 per cent) and the importance of packagers to brokers (11 per cent). The packager's own service and the confidence of lenders in them both polled 8 per cent respectively.
Compared to Q3 2006 figures, the biggest percentage growth area was packagers’ continuing strong position and growth which rose from to 15 per cent to 21 per cent. The importance of packagers to brokers also showed a significant increase swelling to 11 per cent from 5.5 per cent.
The research also heralded non-conforming mortgages to be the most important mortgage market segment from the point of view of packagers with more than half of the respondents (56 per cent) saying it was an area vital to their future business.
Self-certification was reported to be the next most important segment with more than four in ten (46 per cent) saying that it is vital, followed by buy-to-let (38 per cent). Only one in seven (14 per cent) said mainstream mortgages are considered vital while exactly the same proportion claimed this area is not at all important to their future business as a packager.
The research was compiled by Syndicated Research Studies Ltd on behalf of TMB.
Nigel Payne, managing director at TMB, said: “It’s no surprise to hear that confidence is high within the sector and our commitment to packagers as a key distribution channel remains firm. Despite some doom-mongers casting aspirations to their future, the sector has continued to thrive post-regulation and there is no reason why it should not continue to do so.”
