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Mortgage Packager

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 24th 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.

A good example of this is Kensington, which will only lend up to a maximum of 90% LTV through its core range but makes its products available up to 95% LTV through its packager partners.

See how we compare

Lender Name via Lender via 3mc
Kensington Mortgages Mortgage Release Range not available Mortgage Release Range available
Dudley Building Society Self-Build discount for term product 0.80% cheaper
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
Precise Mortgages 2 year fixed DMP Range Up to -0.80% cheaper + £500 reduced lender fee on some tiers
Dudley Building Society Enhanced affordability on 5 year fixed 0.05% cheaper 5 year fixed resulting in additional affordability
Together 2 year fixed Light Range 2 year fixed Light Range 0.13% cheaper
Paragon Bank Residential not available direct Full residential range available
United Trust Bank Not available direct Residential Remortgage Range
Bluestone Mortgages H2B Range not available direct Full H2B Range available
Precise Mortgages H2B 2 year fixed Remortgage Range 0.05% cheaper fixed rate with £750 cash back
Lender Name via Lender via 3mc
Landbay Maximum LTV 75% for Small HMO range Maximum LTV 80% for Small HMO Range
Together All BTL products Up to 0.7% cheaper
Precise Mortgages 2 year fixed 80% LTV HMO Range Cheaper for loans above £133,000 due to lender completion fee
Paragon Bank SSC 80% LTV 5 year fixed rate with free val & Cashback 0.25% cheaper based on a total to pay over 5 years
Paragon Bank HMO/MUB 80% LTV 5 year fixed rate with free val & Cashback 0.70% cheaper based on a total to pay over 5 years

No compromises

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.


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Introducer Service

Alternatively, if you would rather focus on other areas of your business, you could use an introducer service, like the one available through 3mc.

When you come across a specialist case, simply pass the client to 3mc and we will take over the advice and recommendation process in return for a percentage of the gross commission. There is a no cross-sell agreement in place for any products other than the mortgage and the client remains your client. This means that if the client approaches 3mc directly for advice in the future, you will receive the same commercial terms for repeat business.

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