The Mortgage Works has been in the non-conforming market for three years and the refined non-conforming range has recently been made available through a number of selected packagers, following successful pilot schemes. This range of products has been developed specifically with packagers in mind, as many brokers prefer the packager route for non-conforming products.
This distribution strategy is designed to allow TMW to access the largest portion of the market through a much smaller number of key contacts while benefiting from the packagers’ expertise in the non-conforming market.
The Mortgage Works non-conforming range is designed to cater for a broad variety of applicants, including full status, self-cert and buy-to-let loans, and five categories of adverse credit (Near Prime, Extra Light, Light, Medium and Heavy).
Helen Hymos, PMPA’s lender relationship manager, said: “The Mortgage Works non conforming products and service proposition is complementary to our existing lender panel, and we are delighted to be able to offer TMW products via our members. Being able to offer products from a wide range of lenders is a key selling point for PMPA membership, and we are confident that the new arrangement will bring substantial business benefits to both TMW and PMPA members.”
Paul Howard, director of Intermediary Sales at The Mortgage Works, added: “We are delighted that PMPA have added The Mortgage Works to their lender panel. With a large number of first class packagers as members, they provide an ideal platform for increasing our sub prime distribution."
