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Genesis proposition still strong following sale announcement

Genesis Home Loans has confirmed that the transfer of ownership of the Mortgages plc Group to a leading financial institution will enhance its network proposition.

Mortgages plc is currently owned by Nikko Principal Investments Ltd, which has entered into a period of exclusivity prior to the completion of the sale.

Mortgages plc acquired Genesis earlier this year and will also be included in the sale when a transaction is finalised. The sale negotiations will not have an impact of Genesis or its network proposition.

Genesis managing director Barry Robson says: “We remain firmly focussed on building a comprehensive network of appointed representatives in the build up to Mortgage Day. The Genesis proposition remains one of the most competitive in the marketplace and this announcement simply highlights the significant interest in mortgage distribution in 2004.”

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