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HoC in acquisition talks with six networks

Home of Choice says it’s currently in talks with six other networks over possible acquisition plans, with a deal expected by the end of the year.

Speaking at HoCs first-year anniversary, Richard Coulson, chief executive officer at HoC, says: We are in talks with six other networks over potential acquisition plans, they have approached us, because we know what we are doing.

“We will be announcing by the end of the year a deal where we will be working with another network.

Speaking about the four networks that have been told to halt appointing appointing representatives by the Financial Services Authority, Coulson says: Its not us, but do we know who it is? no. I feel sorry for them, because at the end of the day it cant be nice.

“I hope they get their house in order because the industry needs networks.

Coulson also predicted that by the end of the year both network and packagers would be in single figures.

HoC is now close to reaching its three-year recruitment target of 1,000 sellers within its first 12 months, and has now challenged itself to recruit 2,000 sellers by the end of 2008.


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Dear Delia

Malcolm has a portfolio of 15 buy-to-let properties in Yorkshire and Humberside worth around 137,000 each with average monthly rental values of 650. His LTV is 70% and he wants to remortgage to a higher LTV to raise 300,000 to extend his portfolio. All mortgage payments have been made on time but he has some small County Court judgements and defaults from 12 months ago. What are his options? Delia says: Malcolm is in a fairly strong position and has several options. Lee Grandin from Landlord Mortgages and Lynsey Mitchell from Southern Pacific Mortgage Limited offer advice.

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