You are here: Home - News -

Distribution co-operative signs up several members

  • 21/10/2002
  • 0
Packager, The Mortgage Operation (TMO), has launched the Mortgage Distributors Co-operative. Initial...

Packager, The Mortgage Operation (TMO), has launched the Mortgage Distributors Co-operative. Initial members include BDS Mortgage Desk, Genesis Home Loans, ICMG, Mortgage 2000, MLG, Pink Home Loans and Solent Mortgage Services.

By creating a critical mass in distribution, Mark Charlesworth, chairman of the Co-op, said it could carry out cost-effective securitisation deals and create portfolios of business to sell on much faster. He said its size should also enable it to deliver books of business to order.

Individually Co-op members are set to distribute around £5bn of mortgage completions in 2002, with a significant proportion from niche lending areas.

Charlesworth said: ‘Consolidating distribution will allow members to combine the contin-ued support of their current lender relationships with the opportunity to create a new market in the UK for the pooling and distribution of mortgages in the niche product areas. This could lead to the development of a more efficient market for the funding and trading of these products.’

The primary role of the members of the Co-op will not change. The individual members will continue to operate as B2B mortgage distributors and packagers. Existing lender relationships will not be affected.


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.


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.


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.


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.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:

The press are at it again. ''House prices driven to unsustainable levels by the buy-to-let market,' ...