Edeus has revealed the names of the initial group of selected packagers it will work with.
Peter Charge, director of national accounts at edeus, says: We have gone on record as having reservations over some, but certainly not all, packagers. edeus has conducted appropriate due diligence and has chosen a selected initial group of packagers with which we share strong synergies in terms of values, use of technology and business plans.
“We have excellent personal relationships with each of these packagers and look forward to building strong, mutually beneficial business relationships with them once edeus launches.
The initial list of packagers with which edeus will work from day one is:
AMPD Packager Network
BDS Mortgage Group
Chase UK Corporation Limited
Complete Mortgage & Loan Services Limited
Connect Mortgage Group
Mortgagematch Home Loans Ltd
The Mortgage Partnership
Personal Touch Packaging Ltd
PMPA Professional Mortgage Packagers Alliance
TBMC The Business Mortgage Company
TMO The Mortgage Operation
The announcement has recieved a positive reaction from the packaging industry.
Eddie Smith, director of operations at AMPD, says: All Alliance members welcome the opportunity to be in at the launch of edeus.
“We are expecting an innovative suite of products. edeus need distribution and AMPD can deliver. Our decision to work with them makes commercial sense.
“With our current run rate we expect to see completions in excess of 3 billion and with this additional volume we see a first class opportunity for both parties. Bring it on!
Ian Nelson, chairman of BDS Mortgage Group, says: “The edeus launch is one of the most anticipated and exciting events in the intermediary mortgage calendar and BDS is delighted to have been selected as one of the preferred packager providers.
“The calibre and experience behind this lender is certainly impressive and we are confident that the products and technology will more than match this. Our brokers are eager to find out more and make this association a real long-term success.”
Terry Pritchard, chief executive officer at Chase UK Corporation Ltd, says: “It is a privilege to be linked with such respected names in the industry, and it is essential that Chase as a company has strategic partners with this degree of vision and scope for our future growth.
“It is not a matter of just wanting to deal with them, it is a case of having to if you want the best for the consumer. edeus has set out to be a champion of technology based lending and those in the market who ignore their will eventually suffer.”
Tony Salentino, director of Complete Mortgage & Loan Services, says: Complete are proud to be one of the few packagers edeus has decided to work in partnership with. The team at edeus have a proven track record of delivering technology based solutions to add significant value to the mortgage process.
“Complete are fully committed to maintaining their reputation as a forward thinking, progressive company and believe our partnership with edeus will further enhance our service proposition to intermediaries, ARs and our network partners.
Tony Webster, chief executive officer of Connect Mortgage Group, says: “I am delighted that Connect has been chosen to be working with edeus, at the
outset, as our two companies have strong synergies in leading the mortgage
industry with innovative and leading IT.
“The edeus proposition will certainly impact on some of the more established specialist lenders market share, thus creating further competition in an already highly competitive marketplace which can only be good for borrowers.”
Paul Brett, spokesman for Freehold, says: “We are looking forward to working with edeus when they launch. If the reality approaches anywhere near the pre-publicity in terms of edeus’ innovative use of technology and market leading products, then this will be a very successful partnership.”
Rachel Bancroft, managing director of KGB Packaging, says: “The launch of edeus into the intermediary market has seen a lot of investment in the brand, and their products are eagerly awaited by brokers.
“KGB is delighted to become the latest member of edeus’ small select packager distribution panel, and we are confident of attracting high volume business from our brokers.”
James Harries, sales and marketing Director at Manor Mortgages Manor Mortgages are delighted to launch as approved packagers for edeus,
to be able to offer such technological benefits, whilst maintaining the
personal service of our packaging environment. This will give genuine added
value to the broker in the specialised sectors of the mortgage market.
Ian Mcpherson, director of Mortgagematch Home Loans Ltd, says: “Having known Michael, Alan, Peter and the majority of the edeus management team both professionally and personally for more years than I care to admit to, naturally I really wish them well with their new and much anticipated new venture; and I think it goes without saying that if they get their technology “piece” right and the products and renumeration are as promising as I am led to understand, then edeus will be a more than welcome addition to our network and packager panel.”
Martin Maynard, managing director of Mortgage Next, says: Mortgage Next are delighted to be working with edeus from day one and we look forward to re-acquainting ourselves with many familiar faces!
“A number of our members have responded very positively to the decision taken by Mortgage Next to package business for edeus across all product areas, a decision which will allow us to provide maximum flexibility throughout the underwriting process.
“I expect our new partnership to show some early signs of innovation, which can only be healthy for the market and I am confident that Mortgage Next will quickly develop a strong and lasting relationship with this new lender.
John Mawdsley, director of The Mortgage Partnership, says: “The launch of edeus is one of the most highly anticipated lender launches for decades. We believe that their fresh approach and innovative ideas will help shake up the competition which will benefit the market as a whole.
“Naturally The Mortgage Partnership (TMP) is delighted to be part of the launch which will further improve our packaging proposition to brokers and their clients. We wish all the team at edeus good fortune and look forward to having a long and fruitful, relationship with them.
Rob Jupp, managing director of Personal Touch Packaging Ltd, says: We are delighted to be appointed as a packaging partner for edeus. With Peter Charge and a strong senior management team combined with cutting edge technology you know this is going to be a strong market proposition.
Jon O’Brien, operations director at PMPA, says: PMPA look forward to edeus enhancing the PMPA offering via its competitive product and service proposition.
“PMPA will partner lenders who provide high levels of delivery in the specialist areas of self certification, buy to let and sub prime. PMPA expects edeus to position themselves very competitively in these areas. PMPA welcomes edeus to help PMPA maintain its professional standing in the marketplace.
Andy Young, managing director at TBMC, says: “TBMC is delighted to be a business partner of edeus and we look forward to working together from launch.”
Jonathan Haynes, director of Mortgage Packaging at TMO, says: “At TMO our service proposition is at the core of our offering to brokers. Service is also central to the edeus ‘technology driven’ proposition and we are therefore delighted to be working in partnership with them”.