Packager Mortgage Promotions yesterday announced that the 1,000th firm had joined the rapidly growing network, which launched in July 2001.
Nick Baxter, director of Mortgage Promotions, says: “We are delighted to have achieved this milestone so quickly. With an average of over three registered individuals per member firm it means that over 3,000 individuals have access to our products. This critical mass gives us significant buying power with our product provider partners and we are happy to work with them for the benefit of our membership.
“We are an organisation that wants to work with directly regulated mortgage writers who have bothered to pass their mortgage examinations and want to take responsibility for the advice they give, but recognise that they need the assistance of a bulk buying organisation to negotiate on their behalf with product providers and to provide a menu of other services which they buy only if they need them. Our menu has recently been expanded to include an outsourced compliance consultancy service and consumer booklets. The fact that so many firms have joined us in such a short space of time shows that most firms do not want to abdicate responsibility for what they do and we are looking forward to continuing our growth in our focused marketplace.”