The Regulatory Association of Mortgage Packagers has revealed a 51% increase in completed business in November over the same period last year.
Over the full year RAMP is now 27% up on 2004.
John Rice, managing director of RAMP, says: It is great to be able to go into the Christmas period with a record increase in business. RAMP members have been able to shrug off the effects of M Day quicker than many in the industry and because we have concentrated on getting the basics right in terms of compliance and product exclusives, members have been able to concentrate on the task of business acquisition.
RAMP has also reaped the benefit of having a settled complement of members and in view of what has happened recently with other packager groups, everyone at RAMP is focussed on building their business without outside distraction.
Paul Robinson, chief executive at Solent Mortgage Services, adds: RAMP membership has made a significant difference in what has been a difficult trading year. RAMP membership promotes open discussion on topics such as compliance and product innovation for the benefit of both intermediaries and consumers. At SMS, our staff has worked hard to maintain relationships with customers and lenders in a time of market change, which has brought its rewards.