You are here: Home - News -

Packagers are optimistic about their future, says Mortgages plc

by:
  • 06/06/2002
  • 0
Despite recent concerns that the packaging market is set to shrink post-2004, packagers remain optim...

Despite recent concerns that the packaging market is set to shrink post-2004, packagers remain optimistic about their future, according to a survey conducted by Mortgages plc, writes Paul Robertson.

When asked how they saw the long-term future of the industry, five years and beyond, 41% saw major industry growth, with a further 43% seeing stable conditions or minor growth. Only 2% believed that packaging would disappear altogether.

Julian Wells, marketing manager at Mortgages plc, said: ‘It goes to show that for all the high profile discussion about regulation in the industry, the role of the packager is still a valid one. Packagers see a bright future but the challenge is to find how they best fit into a regulated market.’

On regulation itself packagers were by no means unanimous. A third thought they should be regulated alongside lenders and brokers. Reasons cited for regulation ranged from the amount of advice given to brokers that affected their mortgage recommendation to the confidence it would give to lenders to know their packagers were held to a code.

In the nearer term, with non-standard and sub-prime business making up 82% of respondents’ business, packagers were asked how much sub-prime business they anticipated in the next 12 months. Almost 70% said they expected to do more than £11m worth, and 27% anticipated over £41m.

Wells said: ‘Packagers have grown up around the sub-prime market and the survey reflects the benefits that packagers are feeling. The sub-prime market seems to go from strength to strength, with a lot more lenders looking to get involved in the sector.’

• For more details of the survey please see the Packaging Directory, produced in association with Mortgages plc, which is included in this issue.


Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Your career is in your hands

Richard Hall, head of Newcastle-based packager Best Advice Mortgage Centre, has come out with a rath...

Close