Edeus tipped to launch 650 deals on sourcing systems

It is hotly tipped that edeus will have 650 products that will all sit on both sourcing systems when the lender launches on September 14.

Mystery still surrounds the details of these products, but one source says edeus is expected to have a whopping 650 products. Martin Reynolds, director of corporate accounts at the lender, insists the products will be available on both Trigold and Mortgage Brain, despite concerns that there will be too many products for the systems to accommodate.

Reynolds says: “Our products will be on both leading sourcing systems. We will have as many products as needed for the market but it will be a moving feast. We will respond to market demand as we always have done.”

One industry source familiar with the edeus product proposition says: “It seems edeus will be price driven at first, entering the market aggressively with competitive rates. But once introducers become more familiar with its technology, edeus will be able to soften up its rates a bit.”

However, there has been speculation that Michael Bolton, chief executive of edeus, might go for lighter products and ones that are quicker to process.

One source says: “Michael will come up with some sexy rates. I think he will go for heavy adverse, but not yet. Fast and simple self-cert with no adverse and the same with buy-to-let is what he will be striving for.”

Edeus has already ann-ounced that it will be offering an extensive specialist product range and insists it will be competitive.

Reynolds refuses to comment on the hearsay. But says: “We will publish our market criteria shortly but we will be a market leader.”

Edeus has already announced its plans to enter the markets for sub-prime, near prime, heavy, buy-to-let with multiple rental calculations, income buy-to-let, adverse buy-to-let and true self-cert products.