The steering committee of the newly established Association of Mortgage Packagers (AMP) has said it now has the support of 21 packagers.
Although AMP claimed the 21 committed members include most top 20 packagers, two of the largest companies ‘ The Mortgage Operation (TMO) and Pink Home Loans ‘ have so far not signed up for membership .
AMP spokesman Tony Yorke said: ‘There are many that are encouraged by AMP and a small minority who are very sceptical, but at the launch of a new venture scepticism is going to prevail.
‘We are trying to communicate what we are going to do and how it will benefit not just the packaging community, but the wider industry by being a strong lobbying body. We are confident that when we speak to people they will be convinced.’
He added: ‘Obviously part of our strategy is to get both Pink and TMO on board as they are leaders in the field and the association needs the support of both of them. By joining they would be able to influence the direction of the association.
‘Bear in mind that this is a trade association and is an inclusive body so it is imperative that when we launch we speak for the industry, not a small minority.’
David Copland, Pink Home Loans’ sales and marketing director, said: ‘We are not dissenting, but from our point of view packaging is a small part of what we do ‘ we are a mortgage distribution company.
‘I would far rather see a trade body for mortgage intermediaries as a whole that would include mortgage distribution companies, such as Legal & General Mortgage Club, Scottish Amicable Mortgage Club, and included the big names in the industry, Charcol, Savills and so on. The main reason we have decided not to join is that we would far rather be looking at the bigger picture.’