BM Solutions sees increase in packaged business

BM Solutions has seen an increase in the percentage of packaged cases it has received, since the second half of 2007.

BM Solutions has seen an increase in the percentage of packaged cases it is recieving, since the second half of 2007.

A spokeswoman for BM Solutions says: BM has experienced growth in the percentage of business that has been placed through packagers since the second half of 2007. There are many factors that will have caused this. BM has made concerted efforts to develop our relationships with packagers developing our commitment with new technology and services.

While TMB, another HBOS brand, says it has also seen distribution through packagers remain consistently strong.

Nationwide is also experiencing healthy business volumes from packagers, despite cutting its packager panel.

Paul Howard, director of sales for Nationwide specialist lending, says: It hasnt changed at all, weve always left the decision to the broker as to whether they submit their business directly to us or through a packager. For our mainstream business a broker has always been able to submit direct, but for sub-prime they have always had to go via a packager and that hasnt changed.

Kensington says its distribution through packagers and brokers hasnt altered either.

A spokesman for the lender, says: “It is a much more sensitive time, so we have had to control it in different ways, but we still have a large amount of packagers on our panel.