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HBOS says systems will be ready for packagers

A packager source tells Mortgage Strategy it has been unable to obtain a guarantee from HBOS that it will definitely continue to do business with it come October 31.

One packager says it was told by HBOS that although the group is committed to packagers, its IT systems may prevent it from dealing with them for at least a short while.

But HBOS spokesman Paul Fincham says: “This is not true, we are committed to the packager market.”

And Bill Dudgeon, managing director of HBOS subsidiary The Mortgage Business, says: “We have everything in place. The system is basically what packagers are currently using with a few changes for KFIs. Our KFIs will be going live during October. As far as we are concerned, we are dealing with packagers now and will continue to do so after Mortgage Day.”

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