KGB sees 30% increase in broker applications

KGB Packaging, a member of the Regulatory Alliance of Mortgage Packagers has seen an increase of 30% in volumes of cases submitted by brokers over the last month, compared with the average for 2008 so far.

The company has recruited a number of new BDMs that are now trained and out in the field, and has recently invested in technology to provide a fast and effective service.

Rachel Bancroft, managing directot at KGB, says: “We are delighted to report an increase in business levels at a time when volumes are down overall across the industry. Although the number and choice of sub prime products has greatly reduced, we believe that the market conditions are driving many more brokers to use the packager route for their cases. This is because we can give them access to the remaining lenders that are offering suitable products and we have expert professional staff to steer through their cases.

“We believe that the packaging sector should take a more positive stance about its own position, and that more distribution firms should become active in promoting the benefits of their services to the broker community.”