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Mortgage packager turns to franchise to bring in new business
Wednesday 23rd September 2009Announcing the addition of six new franchise owners to its growing network, debt solutions provider, EuroDebt, revealed that it is seeing more advisers and finance professionals consider becoming franchisees amidst the current downturn in the market.
One of the most recent franchisees is Lancashire-based Ray Rainbird, who has been running his own mortgage packaging business for several years.
However, as conditions within the mortgage industry remain strained, he realised that in order to keep his business running profitably he would have to diversify into other areas.
Having been involved in the EuroDebt Introducer Scheme, designed to help mortgage brokers earn commission from referring any financially-struggling clients to debt advisers, Mr Rainbird soon decided that becoming a franchise owner was a more viable option for him.
Planning to utilise his skills in dealing with people and his extensive database to operate in and around the North West, Mr Rainbird commented: “I’m really excited about this opportunity and am looking forward to working under the EuroDebt banner.
“I first became involved with EuroDebt earlier this year when I attended one of their roadshows, after doing some referral business with them I wanted to become more active in the market and saw becoming a franchise owner as the perfect starting point in driving myself forward.
Mr Rainbird added: “Previously, as a packager, I would help people secure mortgages, and now I’m helping people deal with financial issues and so the basic skills are still there. I don’t know how other packagers are surviving right now, for existing mortgage packagers and brokers, business is drying up, whereas in my new role, I’m busy and really enjoying it.”
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