It was obviously written as a justification for why SPF bought a packaging organisation, Personal Touch Packaging, in an environment where packagers and their associations are closing left, right and centre.
Admittedly, PTP had already been placed into administration so the price paid by SPF to the administrator would, I assume, have been relatively modest, but that is not the point.
The column contained an eloquent and credible argument that packagers have a future providing specialist and expert advice to high street brokers for non-mainstream mortgage cases.
I agree, but my point is that we should dispense with the old-fashioned term ‘packager’. The word will be forever associated with sub-prime deals.
Even when the market returns to the credit-impaired end of the consumer spectrum, I suspect lenders will seek to avoid that permanently tainted term.
So let’s think of another description for packagers. Printable suggestions only to Mortgage Strategy.
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