edeus, the specialist mortgage provider which operates solely through intermediaries, will shift towards asset management and savings as the mortgage market suffers from the credit crunch.
The move follows a suspension of its adverse mortgages, products for people with checkered credit histories, and 30 redundancies, representing 15% of its staff, last November. edeus, which will release further details soon, says: “In light of the on-going issues in the money markets and their unlikely resolution in the near future, it is prudent for all businesses in the mortgage sector to remain open to diversification opportunities. “edeus has explored a number of avenues that have the potential to open up additional income streams both for itself and its mortgage broker partners.” The...
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