Sian Brown, national sales manager at Trustguard Credit Services, informed MI of its plans to move further into the satellite packaging sector. She explained: “Some of our better producing and more experienced intermediaries have become satellite packagers.
We provide full training and ongoing support along with a bespoke software system allowing the broker to package using those lenders that are agreeable to this initiative.”
Brown continued: “Satellite packaging enables smaller brokers and packagers to access our exclusive products and in-house remote processing facilities without the pressure to achieve the high volumes usually required by the lender. Additionally they are given more control over the process of the application enabling them to provide a better service to their client.”
Brown said that even before ‘Mortgage Day’ packagers had recognised the need to diversify in order to flourish. “Offering satellite packaging enables the packager to increase distribution and secure a greater share of the market without compromising on quality.
“We currently have a group of very active satellite packagers based across the country. We are confident we can continue to provide lenders with a superior and efficient service and we’re looking forward to talking to like-minded potential satellite packagers,” she added.
Mike Fitzgerald, sales director at Brentchase Financial Services, said it was a good move. “Several other companies are looking towards satellite packagers and companies such as The Mortgage Operation (TMO) already have them.
“It’s a way of expanding your broker base and spreading the word without adding costs to the major firm. It is a brilliant idea and I think we are likely to see more of this kind of distribution in the future.”
