MANAGEMENT BUY-OUT OF GENESIS HOME LOANS PLC.
Genesis will continue to trade under its existing management team and trading name.
Genesis Home Loans plc Managing Director, Barry Robson, said: “Today’s announcement is great news for Genesis and allows the business to focus on what it does best – supporting mortgage intermediaries. The directors, senior management and staff of Genesis are all delighted with this deal and are excited about the prospects it brings for the future.”
Mortgages plc purchased Genesis in February 2004, and it says it has since gone on to become the 7th largest UK mortgage network.
Robson added: “With the backing of Mortgages plc we have been able to develop a robust network proposition and by bringing the company back into independent hands, we believe that we can take the business to its next stage of development.”
