09 Jan, 2008
Cardiff-based packager Prestige Acceptance has closed its doors to
A message on the packager's answerphone confirms the closure,
with the firm blaming the downturn in the US market.
The message says: "We regret to inform you that due to the credit
crunch the business has ceased trading."
PA accepted funding from the Welsh government to grow the business
in 2006 and has since moved to a larger office and hired more
One broker that used PA regularly told Mortgage Strategy that they
had spent the entire day attempting to sort out all cases pending
The broker says: "It's getting to the point where it's
a case of which packagers do you trust."