London mortgage broker folds due to 'plummeting turnover'

London mortgage broker folds due to 'plummeting turnover'


It has emerged that the London-based mortgage brokerage, Chase de Vere, has gone into administration. 

The managing director of the firm, Simon Tyler, confirmed that administrators had been called in last Friday due to a marked drop in turnover during the last few months.


Although Chase de Vere failed to find funding in order to keep the business going, Mr Tyler assured clients that work was being done to ensure that business would be successfully completed.


“Chase de Vere the mortgage broker is sadly no more.” Mr Tyler said. “It is a tragic situation and we have fought hard for the last ten months to prevent this. We had to call in the administrators due to the plummeting turnover we have witnessed as a result of the terrible economic conditions we are faced with.”


However, it would seem that hope is on the horizon as Mr Tyler has already applied to the FSA for permission to trade under Tyler Mortgage Management. He has also bought a number of his former company’s assets from the administrators. 

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