View more on these topics

PACKAGING SUMMIT 2007: Eight out of 10 providers not threatened by DIY lenders

DIY lenders, created by packagers, hold no fear for 80% of established lenders, according to a poll cast at this year’s Mortgage Strategy Packager’s Summit in Nice.

When asked whether they were considering forming a lender, seven out of 10 intermediaries admitted to thinking about such a venture, but eight out of 10 established lenders didn’t think these possible providers to be any sort of threat.

Michael Clapper, chief executive of Enterprise Group, says: “With these DIY lenders there is a real risk of a product lender bias on the packager’s behalf. This may blur lines and be against regulations.”

Peter Beaumont, deputy chief executive of Mortgages PLC, backed the intermediaries.

He says: “Packagers know that it is not all rosy in the garden – they have to be realistic and evolve.”


The Partnership welcomes HIP changes

The Partnership has welcomed changes to government regulations on the introduction of Home Information Packs. The government has changed its guidelines on the packs meaning that estate agents will now be able to market a property without having local searches and leasehold documents in the pack so long as these have been commissioned. This follows […]

Bright Grey appointment

Bright Grey has appointed Gordon Watson as head of customer care operations. He will assume responsibility for all customer service and underwriting functions.

InterBay boosts sales team

InterBay has strengthened its sales team with three business development managers. Nicola Masterson will cover Essex and Suffolk, Sally Williamson will be responsible for Northern Ireland and Andy Jones will be BDM for Lancashire and Cheshire.


News and expert analysis straight to your inbox

Sign up