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Packagers aren’t the only ones hit by the crunch

I’m not alone in finding Chris Gardner’s assertion that most packagers are financially unfit and unwanted by lenders and brokers to be unhelpful in light of the difficulties the industry faces (Mortgage Strategy March 3).

Financial instability is far from being unique to the packaging sector. Many lenders, brokers and packagers have suffered at the hands of the liquidity crisis.

The Financial Services Authority regulates most distributors. Some with appointed representative propositions are audited externally, are innovative and hugely successful in terms of sourcing and lender integration.

They have access to large lending panels’ exclusive products via associations and have never been wholly reliant on adverse products.

I urge those who are not in the know to act a little more responsibly.

Ian McPherson
Director
Mortgagematch
By email

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