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Chase de Vere closes its doors after 27 years

Chase de Vere Mortgage Management has called in the administrators after 27 years as a mortgage brokerage.

Simon Tyler, managing director of Chase de Vere is planning to launch his own company, Tyler Mortgage Management and has applied to the Financial Services Authority for authorisation.

He says: “Trading was decimated by the current economic environment and every effort was made to save the company over the last few months.”

Tyler is confident there’s still a future for mortgage brokers and plans to launch what he calls a “virtual brokerage” once he has FSA permission.

He has bought a number of Chase de Vere’s assets from the administrators, such as its current work in progress, company names, websites and telephone numbers.

He says: “The new company will not have an office and the staff will work from home and meet on a regular basis, this will cut down on costs until volumes can pick up again.”

He is now working with the administrators to make sure it can pay off creditors.

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