Mortgage packagers exist to provide solutions for advisers on cases they deal with on an infrequent basis, and so can give you the tools you need to make the most of every lead.
Packagers have been around for as long as the specialist market. At 3mc we are celebrating our 25th year of business in 2020 and we have worked with thousands of advisers through multiple market cycles. The sector is also bigger than you might think. We handled in excess of £2bn worth of specialist mortgage enquiries at 3mc last year and we are just one packager.
So why are so many advisers choosing to work with a packager?
For packagers, specialist lending is our mainstream. We deal with specialist lenders on a volume basis and this means that we are full-time experts.
In addition to expertise, packagers can provide you with access to lenders and criteria that are not available direct to advisers. A lot of new lenders entering the market at the moment are only available through packagers and many established lenders choose to distribute some of their most in-demand deals through packagers as this provides them greater control over the volume they lend on these popular products.
See how we compare
|Lender Name||via Lender||via 3mc|
|Dudley Building Society||90% LTV 2 Yr. fixed rate @ 3.69% + £499 lender fee||90% LTV 2 Yr. fixed rate @ 3.69% - No lender fee|
|Pepper Money||Pepper 6, 12 and 18 available||0.05% cheaper rate on Pepper 6,12 and 18|
|Bluestone Mortgages||Help to Buy Sapphire Range not available direct||Help to Buy Sapphire Range available|
|Bluestone Mortgages||Discharged Bankrupts considered after 3 years||Discharged Bankrupts considered after 1 year|
|Bluestone Mortgages||IVA’s considered after 3 years||IVA’s can be current cleared on completion|
|Bluestone Mortgages||Right to Buy Range not available direct||Right to buy Range available|
|Paragon Bank||Residential not available direct||Full residential range available|
|United Trust Bank||Not available direct - restricted product range||Full Residential Range available|
|Family Building Society||Interest only 2 Yr. fixed rate not available direct||Interest only 2 Yr. fixed rate available|
|Dudley Building Society||Heylo Shared Ownership not available direct||Heylo Shared Ownership available|
|The Mortgage Lender||LUMI range not available direct||LUMI range available|
|Vida Homeloans||Vida 1, 2 and 3 – Max 80% LTV||Vida 1, 2 and 3 – Max 85% LTV - 0.03% cheaper|
|Lender Name||via Lender||via 3mc|
|Pepper Money||Ltd Co. BTL 5 Yr. fixed rate Pepper 48 available||Pay rate 0.05% cheaper with free valuation|
|Family Building Society||5 Yr. fixed rate range not available direct||5 Yr. fixed rate range available|
|Family Building Society||5 Yr. Limited Co. fixed rate not available direct||5 Yr. Limited Co. fixed rate available|
|Family Building Society||5 Yr. fixed rate Ex-Pat range not available direct||5 Yr. fixed rate Ex-Pat range available|
|Family Building Society||Limited Ex-Pat countries considered||Full lender Ex-Pat countries considered|
|Landbay||NRLA member 5 Yr. fixed rate not available||NRLA member 5 Yr. fixed rate available – 0.05% cheaper|
|Landbay||3.39% 5 Yr. fixed rate HMO not available||3.39% HMO 5 Yr. fixed rate available – 0.20% cheaper + 0.25% cheaper lender fee|
|Foundation Homeloans||Standard background portfolio assessment||Enhanced background portfolio assessment available|
Using a packager does not mean compromising your procuration fee. In fact, if you work with 3mc, you will receive a similar fee as you would receive if you dealt directly with a lender, as we receive a fee in addition to the market procuration fee from the lenders with whom we work.
Enhance your service
Another example where using a packager can enhance your service as an intermediary is having access to lender underwriters. It is vital in placing any specialist case and, at 3mc, we have access to onsite underwriters from several different lenders all under one roof. This enables 3mc to discuss a case directly with a decision-maker and receive an immediate decision.
Nowadays, you can choose how you want to work with a packager partner and you should always retain ownership of your client.
If you want to retain ownership of the advice your client receives, you can harness the knowledge of a packager by using it as a specialist mortgage desk to research the options for your client and provide a range of suitable solutions. At 3mc, we support this with a handy criteria comparison on our website so that you can see, at a glance, how specialist lenders match up against each other.