Ethical Mortgage Solutions is to be voluntarily wound up
following a difficult period of trading since M-Day.
Market conditions have meant that the original business model has been difficult to sustain and the response to marketing has been less than expected.
But franchisees of Ethical are forming a new business entity together.
EMS founder Steve Royal says: “Like all mortgage companies and mortgage brokers we were badly affected by M-Day and the slow mortgage market which followed, but we can not put the full blame onto these external factors.
The truth is that our original marketing and PR strategy failed to deliver the key USPs of Ethical to its intended sub-prime customers.”
The franchisees are working on a new structure and set-up.