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TMW sub-prime foray to impact other lenders

All Types of Mortgages warns that The Mortgage Works’ entry into the sub-prime market will increase pressure on other lenders.

TMW recently revealed it will be entering into the sub-prime market in 2007.

Dale Jannels, sales and marketing director of AToM, one of the three packagers included in TMWs pilot scheme, says: TMWs stated commitment to quality and focus on service is a compelling proposition which may well impact other lenders.

“Its move into the packager market, despite the strength of the brand, highlights the value added by packagers to lenders in a mortgage market which remains highly fragmented.

We are greatly looking forward to working with TMW and anticipate our sales will grow significantly as a result of the relationship.

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