Connect Services Group has ceased trading and is to be placed into administration.
The mortgage website mortgage strategy has just released this article confirming that Connect Mortgage Group has gone bust. Apparently, A message on the firm’s switchboard says it has ceased trading and has appointed Portland Business and Financial Solutions as administrators. Administration is the correct insolvency terminology for business bankruptcy.
Connect Mortgage Group website states that the Company is the following: We are the first company in the UK that concentrates all its efforts on increasing the profits of directly authorised mortgage intermediaries through outsourcing. Its website says that over the last four years it has grown into one of the UK’s largest mortgage distributors with its members arranging over £4bn in lending during 2006.
The firm was financially backed by Venture Capital firms MMC Ventures.