The appointment comes as many networks are currently reviewing their panels and looking closely at the role packagers play when offering their services to mortgage brokers.
This is one of several network panel appointments for Primrose who believe their Evaluate system plays a major part in these appointments. Evaluate is the online sourcing and application system developed for non-conforming loans.
Kevin Friend, strategic partnerships director at Primrose, said: “This appointment comes after a review of Virtual Net’s panel, it is clear that networks are reconsidering who they will allow their ARs to use within our sector. We are confident that our continued investment in Evaluate will lead to establishing a benchmark for meeting the requirements of the FSA.”
Junior Sobowale, chief executive at Virtual Net, added: “We have limited the number of companies on our approved packager panel as we only want to work with those packagers who have robust systems in place to be able to trawl the market and identify potentially suitable products from a sufficiently large number of lenders. Evaluate covers all of our network compliance needs and in our opinion allows us to treat our customers fairly in a transparent way.”
Primrose is working on further enhancements to Evaluate to ensure it continues to attract both networks and Directly Authorised brokers.
Other significant partnerships and appointments will be announced early this year.
