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AWD UK announces management buy-out of Home Finance

AWD UK Group has announced the sale of mortgage and loan arm Home Finance to its existing management team.

The company, which is led by managing director by David Fuher, is to be renamed Carrington Carr Home Finance Ltd and will continue to operate from its base in Leicester.

Last month AWD UK Group announced that it was to sell Home Finance alongside its at-retirement business Read, in a bid to focus on Wealth Management.

AWD Group chief executive officer Mike Kirsch says: “We are pleased to have been able to quickly conclude a good deal for both AWD and the ongoing Home Finance business. In these difficult trading conditions it is important to provide as much certainty as possible. AWD Chase de Vere and Carrington Carr Home Finance Ltd can now enter 2009 with real clarity and focus.”

Fuher says: “My Co-directors and I are very pleased to have been able to complete the purchase of AWD Home Finance within 1 month of the formal announcement of its offer for sale. Our thanks go to AWD Group Plc for their help in achieving this smooth transfer of ownership affording all of our employees, our customers, and our business partners a degree of certainty during a very turbulent period.

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