"Good packagers don’t cherry pick, they get embroiled in the guts of the deal."
The second charge industry is a case in pont. Most brokers are not well versed in seconds. As such, in order to give their customers the very best possible outcome, they must make sure they’re working with a master broker that knows its stuff.
So how do you know what to look for? What makes a good packager?
Contrary to popular belief it’s not about having the most specialist lenders on panel. Having a wide array of products is pointless if the packager doesn’t have the experience of dealing with these lenders and the knowledge of what they are and are not likely to accept.
It’s not about finding the cheapest headline rates. Anyone can look at a selection of products and pick the one with the lowest figure. That doesn’t mean it’s the most suitable product.
No, it’s about hard work. It’s about tenacity. It’s about skill - having that talent to work out how best to present a case. It’s about going the extra mile and putting the extra effort in.
Sourcing systems are great but they are no substitute for talking to an individual and jointly working out the merits of a case to outweigh the negatives.
Your packaging contact needs the ability to create multiple scenarios in their head (based on experience) so they know which lender or underwriter is going to see the application their way.
Good packagers don’t cherry pick, they get embroiled in the guts of the deal.
They don’t allow technology to do the work - they make a point of understanding those important nuances which can make or break an application.
Once you find a packager who works this hard on your behalf, make them your best friend and have them on speed dial.
Yes they will want to be paid for their efforts and experience - but they can save you a huge amount of time and hassle and ultimately find better outcomes for your clients.
