Beacon Mortgage Packaging reports 40% AIP rise

16 July 2008

The firm believes the rise has been triggered by the contraction of other packagers’ panels.

Beacon claims that the rise – in contrast to the overall direction of the market - is substantially the result of lenders reducing their packager panels.

While Beacon has been fortunate to retain its lender links, other distributors have not been so fortunate and have been culled by the likes of Platform, Bristol & West and others.

David Symondson, managing director of Beacon Mortgage Packaging, says: “This growth is far in excess of what I would normally expect, given the general state of the market.

“It seems that we have grown our share within the packaging community and the key reason is that brokers are finding that their usual partners just don’t have access to as many products. Their usual partners either can’t access the lenders or are charging booking fees.”

He adds: “Added to this is the fact that there are some packagers who have stopped packaging completely and exist in name only within the sector.”