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I understand that Mortgage/loan packagers differ to that of a standard loan/broker.
Any info/details anyone has please could you post up? thank you.
The a standard loan broker they do not understand the procedures like a mortgage/loan packager would.
Packager-brokers will be paid commission by the lender for doing the dogs body work for them, such as Employers Reference, the arranging of House Valuations, they contact the Mortgage lender for a 2nd charge on your property and so on, where a standard loan broker would not to what I am aware of do this. Even though I am aware the lender will still pay the broker, but the process is a little more with the packager.
I have a complex case going on at present on the loan reclaiming thread, and up to now cannot find much details online about this matter, I know loan packagers are used for secured loan and mortgage searches and the lender gets them to sign something called an "Agency Package".
Any info will be a help, cheers folks.
(Sorry I did not know where to post this one, as it's in regards of a mortgage/loan packaging query).
Any info/details anyone has please could you post up? thank you.
The a standard loan broker they do not understand the procedures like a mortgage/loan packager would.
Packager-brokers will be paid commission by the lender for doing the dogs body work for them, such as Employers Reference, the arranging of House Valuations, they contact the Mortgage lender for a 2nd charge on your property and so on, where a standard loan broker would not to what I am aware of do this. Even though I am aware the lender will still pay the broker, but the process is a little more with the packager.
I have a complex case going on at present on the loan reclaiming thread, and up to now cannot find much details online about this matter, I know loan packagers are used for secured loan and mortgage searches and the lender gets them to sign something called an "Agency Package".
Any info will be a help, cheers folks.
(Sorry I did not know where to post this one, as it's in regards of a mortgage/loan packaging query).
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