John Rice, managing director of RAMP, welcomed the findings and said it proved the association had continued to grow, year-on-year, since its inception. He commented: “If anyone doubts the value that packagers bring to their lender partners, then our recent announcement about figures speak for themselves. Business from RAMP members is already 36 per cent ahead year-on-year and demonstrates just how important the business we generate is to the lenders we support. Packager value should not be underestimated and while I am sure that lenders appreciate the volume of business, they must be aware of the extra value all packagers represent in ensuring that the business they receive is economically effective both in its delivery and compliance cost.”
Wayne Smethurst of The Finance Centre (TFC), agreed the RAMP findings proved the benefits of packagers within the market and suggested more lenders should adopt a packager. He said: “These new figures continue to demonstrate to lenders that the packaging community still represents the best and most efficient delivery mechanism for mortgage business from the intermediary market.”
James Cotton, mortgage specialist at London & Country, added: “We’re certainly seeing an upturn in business from last year and the rise seen by RAMP is a fairly substantial increase. But the figures aren’t going against the market trend as most have had an increase in business.”
