This would be specifically driven to enhance PMPA's already wide range of services to mortgage intermediaries.
Jon O'Brien, operations director at PMPA, commented: "PMPA has been approached by a number of interested parties over the last few months. It is apparent that there are funders with an appetite to secure distribution in specific areas of the market, most notably in the non-conforming arena. It appears to us that funders talking to PMPA are doing so in the knowledge that we deliver, as a group, large volumes of this type of business."
"Based on recent CML figures PMPA contributes more than 25 per cent of non-conforming completions and we recognise that this makes our offering valuable to both new and existing mortgage providers. Whilst we have not made a firm commitment as a group we feel it would be foolish not to investigate the benefits of having our own lending facility. It is probable, that should we make a decision to proceed, this will happen in the next two or three months. We would expect such an arrangement to be complimentary to the range of services we already enjoy with our current lender partners."