While the firm’s web site is still active an answer phone message greats callers with the message: ‘Thank you for calling the former offices of Staffordshire Mortgage Services. We can confirm that this firm is no longer trading.’
The firm typically offered ‘incredible’ deals, however it refused to verify which lenders were behind their funding.
BM Solutions, who investigated the firm’s activities in March of this year, welcomed the news of its demise.
Matt Grayson, public relations manager at BM Solutions, said: “It is good to see that firms like this are biting the dust before regulation kicks in. They have had a history of complaints against them from brokers. I doubt if any one will miss them.”
The firm lost its packaging agreement with SPML in August 2003 following intermediary complaints to the lender.
In June of this year Mortgage Introducer reported that the firm was no longer registered with the MCCB. However it is believed it continued with its packaging operation.
It remains unclear where Tony Piscopo, associate at Staffordshire Mortgage Services is now employed.
