Both blame the lack of availability of mortgages in the “appalling” market as the main problem.
Cobalt Capital, which was based in Knightsbridge, central London, ceased trading yesterday, whilst Chase De Vere Mortgage Management, which had been operating for 27 years, shut its doors on Friday. Around 100 staff members have lost their jobs across the two firms.
Simon Tyler, managing director of Chase De Vere Mortgage Management, plans to get permission with the FSA to set up a new brokerage called Tyler Mortgage Management.
