em-Financial has called on lenders to outsource more to packagers.
Speaking a the Mortgage Summit in Jerez on June 21, Roger Morris, director at em-, says lenders could reduce their overheads if they sourced processes in a similar way that Rooftop Mortgages has.
He adds that both the packager and lender would win financially, and could pass the savings on to the broker and ultimately the consumer.
However, Charles Haresnape, managing director of mortgages and Bank of Scotland, rubbishes the idea because he says the packaging community isnt up to scratch, meaning lenders already have to intervene when things go wrong as some expense.
Morris retorts that when cases do go wrong, em- makes every effort to rectify problems.
He says: We take accountability because at the end of the day our boss in the intermediary.