AMPD which comprises of 16 members including Praxis has been trading since January 2006 and was responsible for writing in excess of £1.2bn of completions in 2008 compared to over £3bn in 2007.
Liza Campion, director at AMPD, says: “We are delighted to welcome Praxis on board. They have the backing of the Melton Group which long term we hope will benefit all of the AMPD members and will be the beginning of a mutually advantageous relationship.
“The next 12 months however are all about survival and it will be exceptionally tough for all concerned especially packagers.
“Being a member of AMPD with the ability to share ideas and offer a packager voice to its lender partners, will help its membership weather these turbulent times and put AMPD in a fantastic position going forward with new and existing lenders in the market place.”
Joe Merrix, products and services manager of Praxis, says: “We are extremely pleased to be joining AMPD. We are looking forward to working with the other members to strengthen our overall position and service offering.”