Freehold has been to set up with the aim of representing around 50 small packager firms and to create a ‘kite mark’ of quality which lenders, networks and brokers can refer to.
Freehold founder Paul Brett, who is also sales and marketing director at FastCom Mortgage Packaging Ltd, said: “Not every packager firm wants to rule the world and I believe that there will still be a role for small firms who can offer genuine value to lenders and brokers. However it is important that we set service standards.”
Brett said Freehold was aimed at firms who were not of a size to join larger organisations such as RAMP and PMPA.
Rachel Bancroft, managing director of KGB packaging, welcomed the new organisation. She said: “This is perfect for our firm and we will be looking to join as soon as possible. It is important for quality packagers to band together at this time.”
Julian Wells, head of marketing at Mortgages plc, commented: “There will always be room for quality firms in every sector regardless of their size.”
Tony Jones, managing director of Pink Home Loans, said packagers had to evolve to reinforce their value to lenders. “When I first came to Pink two and a half years ago virtually all our business was packaging, now it makes up a much smaller part of our overall business,” he explained.
However well-known packager adversary Michael Bolton, managing director of BM Solutions and Halifax Intermediaries, said he did not hold out much hope for small packagers. “If they want to know what they want from me as a lender, it is to leave me alone,” he said. “This sounds like the death rattle of the packaging industry.”
