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  • dan1979
    dan1979 Posts: 195 Forumite
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    The majority of packager deals were 90%+ stuff and very few of those deals exist any more. On top of that proc fees have been cut so there's a double whammy of reduced business levels and making less money on each deal.

    There will definitely be a few more packagers that close, at the least there will be more redundancies in the ones that remain.
  • sarkin
    sarkin Posts: 785 Forumite
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    Just had an email, 2 guys from packaging at my compliane place got canned today.

    Not a good day to be a packager
  • Dan_Collins_2
    Dan_Collins_2 Posts: 1,377 Forumite
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    I must admit, and sorry if anybody is a packager and I dont want anybody to lose a job, they are not needed! They are a cog in the works and a pain in the back side, the service is normally poor and I think they are now coming to the end of the line.
    :confused:
  • mdj1
    mdj1 Posts: 164 Forumite
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    well, they could always use their skills in the confectionary industry and move onto fudge! lol
  • dan1979
    dan1979 Posts: 195 Forumite
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    You're right Dan (although my service was always good!) but if you'd seen what we go through the door and heard some of the conversations you'd know there's a lot of shocking brokers out there who really need others to do everything for them. Bear in mind I dealt with the worst of the worst in terms of applicants and brokers.
  • NeilQuinn
    NeilQuinn Posts: 162 Forumite
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    Just had an email to say that BM are withdrawing Mortgage Plus tonight or tomorrow.

    Anybody got any pipeline cases - get them in today, folks!
  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
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    For gods sake, I didnt think it would take them long to follow the lead. my head hurts.

    Ive got foreign nationals needing high ltvs, adverse clients needing high ltvs, consolidation clients needing high ltvs and nobody earns enough to borrow what they need anymore! Buy to lets here I come!
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
    First Post First Anniversary Combo Breaker
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    whoops I forgot, there arn't many buy to lets no more. :(
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • NeilQuinn
    NeilQuinn Posts: 162 Forumite
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    MortgageMamma wrote: »
    whoops I forgot, there arn't many buy to lets no more. :(

    It's weird - I've never done that much in the BTL market but since Xmas, I've had a real run of them. Mainly people shifting their deals or releasing a bit of equity.

    Most of my clients are low LTV clients who fit with mainstream lenders fortunately.

    Like you - the odd adverse enquiry that I get, I'm struggling to place because of all the changes.
  • dan1979
    dan1979 Posts: 195 Forumite
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    How do you place your adverse deals?
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