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Em aims to swoop for three mortgage packager firms

Em Financial is looking to snap up three mortgage packaging firms in a bid to take advantage of market conditions.

Managing director Roger Morris says it would keep the brands of the companies acquired but centralise the processing to reduce costs.

He says as Em Financial is a privately owned company, it is easier for it to make acquisitions in the current market conditions.

Morris says: “It has got to be done in the right way but I am positive that we will be able to make a deal in the next couple of months.”

Em Financial recently took over the remaining book of business from rival packaging firm Chase UK following its decision to close down.

Morris says Em Financial has reduced its outgoings by 75 per cent compared with the same time last year.

He says: “We did a managed reduction in employees over the course of last year so we are now down to just 30 people. We used to employ around 100 people. Financially, we are in a good position.”

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