Home of Choice assures ARs over payments

Home of Choice has sought to dampen down fears over ARs’ unpaid commissions and says its acquisition talks are ongoing and all is being done to make sure ARs are paid.

In an email to ARs, Gerry O’Brien, chief executive of Home of Choice, says he and the rest of the board believed these negotiations would be concluded last week and are working around the clock to finalise these discussions to ensure that staff and brokers are paid.

He says: “We understand your frustrations and share them. I cannot give you a definite day for payment into your account at this moment – all I can do, honestly, is say that we have been working hard for you to be paid with the minimum delay.

“I would like to thank those advisers and staff who have expressed support and loyalty to me and the board.  I can assure you that we are doing everything we can to take this business forward.”

Mortgage Strategy revealed yesterday that Home of Choice is in final negotiations with an investor to acquire the business.

Rumours are rife that Keith Carby, former chief executive of Openwork, is looking to buy the mortgage network and incorporate it into his IFA business Foster Denovo.