Beacon sheds light on em-Financial pipeline business

Staff at Beacon’s Fareham offices have been working overtime to contact all brokers who had unresolved business at em-Financial to assure them that their cases will be taken forward as quickly as possible. This follows the purchase of em-Financial’s unoffered pipeline by Beacon shortly after administrators were appointed to em last Monday.

Sue Cox, Beacon Mortgage Packaging Head of Intermediary Sales, said: “If all the documentation has been there, we have been able to submit cases to lenders swiftly, but, where it has not, we have been going back to brokers to get the additional information needed. We have prioritized urgent cases and endeavoured to get them through rapidly. In any event, by this Friday intermediaries will be relieved to hear that all em’s unoffered pipeline will have been processed by Beacon Mortgage Packaging.”

Ms Cox added that procuration payments would be made swiftly by Beacon Mortgage Packaging on all cases that completed through Beacon, but that this did not include any cases which had previously been offered under em-Financial.

She added: “We know that times are tough for intermediaries and the least that we can do is ensure that they get their due payments shortly after completion.”