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Around 70 jobs have gone at Promise Finance as cutbacks were announced on Friday. The Promise Group comprises a number a companies involved in the property sector and it remains unclear whether this will have any impact on the Promise Home Information Pack division.

Group managing director Steve Walker said:

The decision to close this part of the business was extremely tough but the current market conditions have dictated this as the only sensible course of action.

We will remain in the secured loans sector focusing on a quality service provided by some of the best people.

Strategically the steps we have taken, while regretful, make sense for the long-term stability of the remaining jobs and give us a sound platform from which to grow.

As ever, we wish the families of those caught up in this the very best of luck for the future and hope they can find stability soon.

Is IDEA in trouble?

There has been a growing body of opinion on the leading industry forum against the DEA/HI membership body Institute of Domestic Energy Assessors (IDEA) recently. Some of the recent revelations highlighting the activities and actions of the leadership of IDEA have been startling to some and there has been a frenzied debate this weekend as to what might be the way forward.

The debate has mainly revolved around IDEAs commercial activities, the decision-making of the leadership and the lack of consistency of approach to the management of its own members. Some of the commercial decisions to link up with sole suppliers and or service providers looks somewhat unusual for any Institute and its clear that a number of disgruntled members and former members are reaching for their rulebooks to figure out what has been done within the rules and what may fall outside them.

It looks like this has got some more fuel to burn before it becomes clear what the future of the DEA/HI membership organisations will look like- any future twists and turns will of course be covered here.

Labels: Promise Finance announce job losses Is IDEA in trouble?