Sub-prime and self-cert vital to packagers, says TMB

Sub-prime and self-cert mortgages are vital to the future business of packagers, research by The Mortgage Business reveals.

The research surveyed packagers about which sectors are the most important to their business and found that nearly six out of 10 of respondents saw sub-prime mortgages as a key area, while 54% saw self-cert as most important going forward.

More than four in 10 said buy-to-let was vital to their future success.

Mainstream mortgages were only considered an important sector for future business by one in 10 packagers.

Compared to three months ago, sub-prime mortgages have gained importance amongst packagers with 14% more respondents saying that this sector is vital to their future business.

Nigel Payne, managing director at TMB, says: “This research helps us assess what areas are important to packagers and intermediaries alike.

“We work hard to focus our business in order to deliver the highest standards possible and information captured in this form is integral to achieving this.

“It is interesting to see the increase in importance packagers now attach to sub-prime business as a growth area and one which is vital to their future success.”