The Hendon-based packager is the first new member since PMPA saw 12 businesses break away to form the Association of Mortgage Packagers and Distributors (AMPD) in January.
Jon O’Brien, operations director at PMPA, had said the organisation would see new members and Finance and Mortgage Solutions are said to be the first of several to join the ranks of its membership.
He said: “We’re delighted to welcome Finance and Mortgage Solutions into the PMPA. It joins us as a like-minded business, working for the common good, and always aiming to add value to the whole membership, our panel lenders, and our broker base. We’re confident it will go on to make a significant contribution to the ongoing success of PMPA in the future.”
Terry Chamberlain, director at Finance and Mortgages Solutions, added: “We looked at other associations but PMPA seemed to fit the bill. They are well respected by the lenders we talked to and we liked the way they worked, especially in terms of exclusive products and service. Also, if you have a group of businesses doing similar stuff but some things differently, you are going to pick up on things to improve your service from each other so there are no losers.”
Finance and Mortgage Solutions completed around £200 million of business last year and despite the split within the group, it is expecting this to grow to £500 million this year.
“We started the application several months ago but it was held up by events. The break up could be good as the companies left have got to respond and maintain PMPA’s reputation but we are very positive about the future,” Chamberlain added.
