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Loanmakers rescued by chief exec

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Loanmakers rescued by chief exec

After calling in administrators earlier this week, Bolton-based loan broker firm Loanmakers has secured a buyer in the form of its previous chief executive, Ges Ratcliffe. 

The business and assets of Loanmakers have been sold to Mr Ratcliffe’s company, Creditflex Loans and Mortgages Ltd. It spells good news for Loanmakers staff, as 33 out of 37 have retained their jobs, although 4 were made redundant.
Creditflex, as part of The Evolution Consumer Group, offers numerous products to the indebted, and has said that it will honour existing relationships of Loanmakers and introducers will be paid their commission.   
The managing director of Creditflex, Kevin Cresswell, commented: “Now that we have formed Creditflex Loans and Mortgages I anticipate the businesses will develop even closer working relationships and add more value and choice with a one stop shop approach to our existing and future partners.”

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