That was then:
It would seem that Edeus is focussing on large mortgage loans (up to £10 million) and getting applications through at top speed, enabling a fast completion, or at least the peace of mind of a speedy offer, leaving the other parties to catch up. Edeus has said in the financial press that they will offer buy to let mortgages, first time buyer mortgages and a full range of sub prime mortgages including low loan sizes for heavy adverse cases, through to light sub prime mortgages. Set up by Michael Bolton, Alan Cleary, John Nixon and a team of seasoned mortgage professionals, Edeus... is expected to start business in September 2006.
This is now:
Alan Clearly, managing director, at the group, said: 'If we sold our mortgage book outright, we would most likely make a loss. By going direct to the consumer we can curb this.' Edeus will be encouraging the selected borrowers to contact the brokers that originally introduced the loan to Edeus in order to source a suitable deal with another lender.
Edeus has announced they'll be waiving early repayment charges in a bid to encourage clients to pay up and move on.
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