Mortgage Times directors launch Carmody & May

15 January 2010 | By Natalie Thomas

Mortgage Times directors Chris May and Paul Carmody have set up a financial planning and asset management firm, Mortgage Strategy can reveal.

The firm, Carmody & May offers property finance, risk planning and business development services, amongst others.

Carmody & May is not listed on Companies House, but the firm’s website was set up in November, just before the collapse of Mortgage Times in December.

Its website lists 247 Tottenham Court Road, London, as its head office, the same address listed for Mortgage Times.

The firm’s website boasts that the directors: “Personally know the lending industry’s leading figures so have the inside track.”

The directors also say on the website: “Our base in Central London has encouraged us to thrive under ultra competitive backdrop. The management style adopted by us both has promoted best in class solutions and independent thinking.”

It is unclear whether Carmody and May were operating the firm prior to the demise of Mortgage Times.

Mortgage Strategy tried to contact both Carmody and May for comment but was unable to reach them.

See Monday’s Mortgage Strategy for more details.

Readers' comments (35)

Anonymous | 15 Jan 2010 2:09 pm
Yet another case of phoenixing a firm. the directors walk away able to set up straight away while the poor AR's are all left out of pocket. The same thing happended with Chase De Vere and no doubt countless other firms. Perhaps the FSA should take a closer look at this...
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Anonymous | 15 Jan 2010 2:11 pm
Actually I'm being harsh - all the best to Chris and Paul on their new life. I hope the FSA makes sure that they've changed though...
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Anonymous | 15 Jan 2010 2:14 pm
perhaps they should have taken their own advice re risk planning or advised those business producers providing them with business that there was a risk you wouldn't get paid. And I am not owed a penny by them, but if I was I would be fuming. What a joke, perhaps they should be called "May and COMEDY"
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Brian Brotherton | 15 Jan 2010 2:18 pm
Taking the pee is more like it
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Anonymous | 15 Jan 2010 2:26 pm
What a joke! Offering property finance, risk planning and business development services after what happened to Mortgage Times!

Whatever next.
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Anonymous | 15 Jan 2010 2:28 pm
It amazes me that these guys can just walk away from their existing Directors commitments at MT & start a new business with no questions asked. I wonder how the ex AR's & staff from MT who are no doubt owed substantial money,feel about that? The FSA appear to be concentrating their focus on brokers committing fraud & just turning a blind eye to this. Can someone please explain the difference to me?
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James Town | 15 Jan 2010 2:30 pm
They did toy with the name of Stitchem & leggett
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Anonymous | 15 Jan 2010 2:31 pm
Would like the FSA to explain the definitions of the words Fit, Proper & Integrity as they seem to be there buzz words .. should we be suprised or expect anything less from the FSA (aka Hectors House from the Herb Garden)
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Anonymous | 15 Jan 2010 2:32 pm
Maybe they should simply reinvent the FSA and launch a rival body at least Dick Turpin wore a mask
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Anonymous | 15 Jan 2010 2:42 pm
Its amazing that yesterday The Financial Services Authority has banned Stephen Allen, a director of insurance broker, Fabien Risk Services Ltd, for failing in his duties as a director of a regulated firm and yet they have not applied this ruling to Chris May and Paul Carmody! How has this been allowed to happen?
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