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Edeus changes course with arrears management move

Edeus is to enter the arrears management market after re-engineering itself into an “asset management” service business for the UK mortgage market.

In an interview with Money Marketing, chief executive Michael Bolton says the firm has not made a final decision on whether it will withdraw temporarily from the mortgage origination market.

But Bolton admits that the current market does not allow for any form of non-balance-sheet lender.

He also reveals that the company is looking at moving into the deposit-taking arena and will be making an announcement on this in the near future.

He says Edeus has always had an in-house servicing team, which he brought with him from HBOS, and claims the firm already has several contracts in place.

He says: “It is a service that will become increasingly in demand as we turn into the credit crunch. I do not want to sound like the doom and gloom chap but dare I say that we are moving the business towards the growth area of the UK mortgage market.”

Baronworth director Michael Brill says: “There is a space there for firms to enter this market. I think that they will do well as long as it is done sensibly.”

Bolton interview, p13


DB transfers – one more factor to consider

Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]


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