The lender has been piloting its products through a panel of brokers, including Savills Private Clients and Chase de Vere Mortgage Management.
Discussing its progress, Alan Cleary, managing director at edeus, said: “We have been testing our offering with a number of intermediaries and want to ensure we get everything right before rolling out to the wider market, which we are on course to do by the end of the month or the beginning of next.”
The lender has also revealed details of its product range, featuring 350 products including self-cert, buy-to-let (BTL) and adverse. Rates on its adverse range start from 5.99 per cent and offers up to 90 per cent loan-to-value (LTV) with no extended early repayment charges. Its BTL range includes three pay rate calculations with various rental incomes.
edeus said it is also focusing heavily on technology and is aiming to provide a one-stop shop for brokers. Funds can be released in five days for remortgage business, with plans to extend this to purchases in the next few months. Those logging in to edeus’ website can see their 10 most recent applications on the home page. It also has a client management system, which allows brokers to access its entire pipeline of business in one place and includes the option to scan and upload any document relevant to each case.
Commenting, John de Rosarieux, managing director at Finance Now Limited, said: “edeus is offering a number of excellent features, but what stands out is its focus on speed and technology. The ability to compete against banks in terms of speed is crucial and releasing funds in five days is very important. While the rates on offer are on a par with other lenders, its focus on technology and speed are crucial in moving the market forward.”
