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Pictured: Tim Henson, Dale Jannels and father Vic Jannels
“Sourcing systems are great for tick box cases when the criteria fit A, B and C. But if B or C doesn’t fit, most brokers are at a loss. That’s where we come in - we have the relationships and experience of working with banks and building societies that allow us to get cases that don’t fit the boxes through regardless - because the lender trusts us when we tell them it’s a good case.”
“I actually think packaging is already coming back,” adds Vic. “There are some lenders out there already finding it hard to hit their lending targets and we’ve certainly been approached by a major player to find ways we can up the amount of lending they’re doing through AToM.”
Since the start of the year the firm has had seven lenders approach it to offer packaged distribution of mortgages. GE Money, Bank of China, Platform, BM Solutions, The Mortgage Works,
34 mortgage introducer MAY 2011
Cheshire and a mix of seven private banks and building societies which are prepared to do “more complex deals” are already on the AToM panel. Around 10% of AToM’s business is done directly with consumers, giving them a working insight into what brokers are going through when trying to place cases. But the core of what the firm does remains packaging and distribution. “The future of AToM is going to be packaging specialist, complex prime cases,” says Dale. “It’s important to remember that
regardless of whether a case comes through our door from a consumer or a broker it gets packaged,” adds Vic. “We collect and review all the paperwork necessary and if it’s insufficient for whatever reason that case won’t go to the lender - we also need to protect our reputation for submitting good quality business.”
Complex prime Criteria remain tight and client affordability is still being squeezed meaning more customers are finding it tougher to get a mortgage. The moniker “complex prime” fits well to describe the scenario increasing numbers of clients face and various lenders have staked a claim over inventing the term as has the former director general of AIFA, Chris Cummings. Vic is keen to clear things up on this
point.
“Firstly, AToM coined the phrase complex prime in the mid 90s,” he says. “It was due to the interesting style of business enquiries I was receiving from high quality introducers at the then, J. Rothschild Assurance. “The cases were clean in terms of
credit but complex in terms of structure and fitted the description well. We didn’t trademark complex prime but believe that we were first to market the term.
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