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21 Feb, 2008

Natalie Martin
Date: 20-Feb-2008

KGB Packaging and Distribution has become the latest distributor to step in and assist brokers and satellites left in the lurch by problems faced by the rumoured closure of LMS Packaging.
The Barnet based packager, will assist with re-types of valuations, case progressing and help with opening communication channels between lenders and brokers using their strong lender relationships for all lenders that are currently on both the KGB and LMS panels.

Rachel Bancroft, managing director of KGB Packaging, says: "These are very difficult and challenging times for our industry. We very much regret to hear about the problems at LMS and we would like to do anything that we can to support the broker community affected. We are in a strong position and moving forward we are very eager to do business and look at new satellite arrangements where applicable"

"We have a very wide panel of lenders with whom we have long standing relationships and have always looked at products from lenders with a view to Treating Customers Fairly- this has put us in a strong position in the current market instability."

KGB would also like to extend this offer to other smaller packaging companies faced with similar problems with a view to helping them work out strategic plans for survival in the current climate.

Bancroft adds: "This is a time for consolidation and we will help out wherever we can in complete confidence".

All brokers affected should call the KGB helpline on 0845 658 9222 quoting "Broker Emergency Service" or email [email protected]

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