I have received a phone call this morning from Nemo confirming that they will be closing their doors to new business from 18th March.
This means all cases need to paid out by the 18th and we will stop submitting new cases to them next week.
If you have any Nemo enquiries where customers are considering the offer I urge them to act very quickly. Similarly, if there are Nemo cases being processed customers need to return any required documentation as soon as possible.
I can't comment on the reason behind Nemo's closure but personally I feel this is a massive blow for the team at Nemo who have done a fantastic job rebuilding the business and preparing it for MCD. Remember Nemo was one of the few lenders which continued to support the broker community throughout the credit crunch.
We wish them well for the future and no doubt many of them will reappear in the market in the near future.
If you have any queries regarding a particular Nemo case then please give your underwriter a call on 01902 267443.