Results collated from a poll of over 200 mortgage brokers and independent financial advisers (IFAs) suggest that the primary reason for using packagers is to take advantage of their knowledge of lenders and their access to exclusive mortgage products. With the marketplace set to become more crowded with the introduction of new lenders in the coming months, the role of the packager is predicted to remain crucial. 62 per cent of respondents said that the amount of business they would submit to packagers would either increase or remain the same over the next 12 months.
The survey also found that the majority of respondents (42 per cent) said that they use packagers most for non-conforming business, with mainstream business (23 per cent) coming in second, followed by Self Certification (18 per cent) and Buy to Let (17 per cent).
The results were part of the first wave of Platform’s ‘Clickthinking’ initiative launched in May.
Commenting on the findings, Paul Hunt, Platform’s head of marketing ,said: “Ongoing speculation from industry commentators continues to cast doubt on the longevity of the packaging community but our research suggests that their role is very far from obsolete. As a company that values packager distribution, we believe they add considerable value by not only generating substantial volumes of business for lenders but also providing fast turnaround times for intermediaries, enabling them to deliver a superior service to their clients.”
