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.