FTAdviser.com

Advertising

Along with first charge mortgage loans, Praxis also offers secured loans and commercial lending, and the packager recently launched its web-based sourcing and processing system Fast Forward.

Vic Jannels, chairman of the PMPA, said: "We are delighted to welcome Praxis and look forward to the growth that the overall business model will bring to the alliance.

"Melton Mowbray Building Society, the parent company of Praxis, is happy with the move and we believe this is a good engagement for all parties.

"From our discussions with our panel we are aware that lenders are looking for strong relationships with larger distributors that deliver quality cases, and the size and stature of Praxis fits this model."

Dudley Aldous, sales and marketing director of Birmingham-based Praxis, said: "We look forward to working within PMPA and are confident that we can make a contribution to the future success of the Alliance, while at the same time benefiting from the exclusive products and enhanced fees that it has been able to negotiate, all of which is also good news for our own adviser base."

PMPA member packagers are Praxis, Platinum Lending, Mortgage Match Limited, Countrywide Mortgage Centre, Niche Mortgage Solutions, Atom, BDS, Complete, Finance and Mortgage Solutions, Knight Funding, Open Door Solutions, OPM, Premier Mortgage Centre, Premier Mortgage Packagers and Primrose Mortgage Processing.