In just 12 months the number of specialist lenders has dramatically reduced and the mortgage network landscape has changed due to consolidation and closure. News about the mortgage distribution market continues to hit the headlines as service levels are challenged on a daily basis.
David Copland, Managing Director of Pink Home Loans comments: “It is clear to see that having two brands in the current climate is beneficial. It allows us to maximise key strengths of both businesses. For example, Pink’s packaged processing was moved to BDS to take advantage of their extended panel of lenders, providing Pink’s network members with a wider choice. Pink’s intermediaries also benefit from being able to use Gravity, BDS’ criteria based sourcing system for non-conforming products.”
Phil Jay, Managing Director of BDS Mortgage Group adds: “The acquisition by Pink has been a positive experience for our network members, as they can enjoy 24 hour commission payment facility, compliance support and greater negotiating power with lenders. Having a close working relationship with Pink also means that we have benefited from their experience in the direct market, and their product development skills.”
Copland continues: “Over the past 12 months we have seen the group grow by 16 per cent in terms of business writers, which demonstrates the attractiveness of becoming an appointed representative of The Pink Group, which is currently ranked 7th in terms of network size. In this market, size and reputation for great service are a key success factor, something the Pink group delivers on time and time again with its supplier partners.”
“The two management teams have a vast array of experience, knowledge, and contacts within the industry, which is essential in the current climate. Whilst we continue to adapt to the new economic landscape both Pink and BDS are well placed to continue to deliver a five star service to all of our customers and business partners alike.”
