Packager offers help after TMO closure

KGB Packaging has offered a lifeline to brokers who have pipeline cases with The Mortgage Operation, which is set to go into administration.

KGB has offered help with re-typing of applications, valuations, case progressing and provide a communications channel between brokers and lenders.

Rachel Bancroft, managing director of KGB, says: “It is sad to hear of another packager closing its doors and we feel that brokers and their clients should not suffer unnecessarily.

“We hope that other packagers will follow our lead in supporting the broker community and safeguarding the reputation of the packaging sector.”

She adds: “Our staff are ready to take on the extra work and our strong lender relationships including inhouse underwriters should help facilitate a positive outcome wherever possible.

“If TMO’s BDMs call us now, we can discuss the smooth transition of cases, with the least amount of disruption for applicants and brokers.”

Nobody at TMO was available to comment.