Editor's Update: The rise of the master broker...

Editor's Update: The rise of the master broker...


I would bet a month’s salary on the fact that everyone in this industry has by now heard that Precise Mortgages has entered the short term lending market.

There has been so much hype surrounding the lender’s recent launch that I for one was ready to inspect every detail of the new products and rates just to try and find some sort of ‘catch’. After all, things that look too good to be true usually are.

Well... try as I might, I am yet to find any ‘catch’ to the attractive proposition. The pricing is transparent; the rates are fair, and furthermore, available across England and Wales. I am, in fact, beginning to predict that Dragonfly Property Finance, along with the other large lenders, may finally have some serious competition.

But whilst competition among the lenders gets fiercer by the day, it seems that among the top packagers/master brokers it is diminishing.

It has been months since I heard even rumours of a new packager launching. There are, of course, hundreds of smaller offerings in the sector, but for the likes of First4Bridging or Commercial 1 Ltd, business must be good!

The plethora of lenders and products available, as well as the rigidity of their respective panel systems, means that it is just a few well established packagers controlling the majority of the distribution.

They must certainly be busy, which may explain why it is so difficult to get them on the phone for more than a few minutes, and why I saw so few of them at last week’s expo in Manchester.

The Mortgage Business Expo, hosted at the Old Trafford, was by all accounts much better than expected. Admittedly, I did not see many top packagers there, but the room was filled with brokers for most of the day.

And rather than the small show that was expected, the thirty-odd stands were arranged in such a way as to create a close-knit and friendly atmosphere. The Convey 99 stand, who offered free ice creams on their stand, certainly helped to perpetuate this mood.

I’m looking forward to attending many more events as we move into summer. There are a few boat parties on the horizon, and I’m already planning my outfit for the Bridging & Commercial Awards 2011 on June 27.

And finally, as always, let me know if you have any news, or if you’ve heard any rumours about the emergence of any more master brokers in this sector. You can contact me at

[email protected].

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