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.