The firm is headed up by director of the Professional Mortgage Packagers Association (PMPA) Bob Scott and is based on Teeside.
Open Door will offer most packaging services including processing, branded facilities and satellite opportunities and it is promising a different approach to packaging.
Scott said: “The new venture is a transformation of packaging as we have known it, to cater for the needs and service demands of a highly evolved marketplace. Regulation has seen massive consolidation and the service offers everything required from large distribution channels.”
The packager has a panel of 25 lenders providing products, including exclusive deals and facilities. It also operates referral schemes.
Jon O’Brien, operations director at the PMPA, commented: “As a founding director of the PMPA, Bob has always been a true supporter and advocate for the packaging market. This new venture will allow his, and PMPA’s success to grow.”
Kevin Morgan, managing director of Consilium Financial Planning, commented: “It does seem we are now in a period of innovation in the packaging market. A lot of companies are appealing to the market in an attempt to establish their own niches. The market is moving fast and packagers now have to be all-singing, all-dancing propositions so fair play to them and good luck.”
