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Proc fee changes good for packagers

Making proc fee adjustments is good news for packagers says Mortgages for Business.

The buy-to-let packager believes HBOS’ recent fee changes will distinguish the more efficient packager.

Nick Blunt, head of business partner development at Mortgages for Business, says: “By aligning proc fees across the market, HBOS is creating a level playing field from which every packager can add value through providing an enhanced and dedicated service to their brokers.”

He says: “Now that proc fees are being aligned, brokers should look to utilise the packagers with the best service.”

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Dear Delia…

My client Mark is a qualified reflexologist who set up his own business 10 months ago. He would like to buy a £160,000 flat and has a deposit of £45,000, which is made up of savings and a lump sum from his parents. His business is doing well and he estimates his annual income to be £29,000. Mark has been turned down for a mortgage by his existing lender as he is unable to produce any accounts. Can you help?

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