Edeus’ circle of trust packagers revealed

Edeus says it will not rule out talking to any packagers that want to join its ‘circle of trust’ panel, as it reveals the names of the first 15 firms and associations to join.

The packagers on the panel are AMPD Packager Network, BDS Mortgage Group, Chase UK, Complete Mortgage & Loan Services, Connect Mortgage Group, Freehold, KGB Packaging, Manor Mortgages, Mortgagematch Home Loans, Mortgage Next , The Mortgage Partnership, Personal Touch Packaging, Professional Mortgage Packagers Alliance, The Business Mortgage Company and The Mortgage Operation.

Peter Charge, director of national accounts at edeus, says: “The firms we have chosen have been selected for their business fit. We looked at technology, which is an important factor, and we think we can work well with them.

“But that’s not to say we aren’t looking to take on more. If people come to us to talk about being on our panel we will have the conversation. We just have to make sure we have the right relationship before we move forward.”

Charge says the name of the panel will be announced later this week.

Terry Pritchard, chief executive officer of Chase UK, says working with edeus is necessary to provide the best service to customers.

He says: “It’s not a matter of just wanting to deal with it, it’s a case of having to if you want the best for your clients. Edeus has set out to be a champion of technology-based lending and those who ignore it will suffer.”

Packagers out of the circle say that being on the edeus panel is not a necessity. But Roger Morris, managing director of em-financial, which isn’t on the panel, says edeus should ultimately benefit the market.

He says: “I’m pleased to see Michael Bolton and his team working with packagers after he said packaging was dead. I don’t believe people should close any doors, but we’ve not been approached by edeus.

“Although I wish Bolton luck I would not necessarily want to be associated with people who sensationalise issues to get publicity.”

He adds: “Edeus will benefit us whatever happens as it will boost competition which can only be a good thing. I wish all the packagers on the panel the best of luck.”