Portillion has withdrawn its FSA application and shut up shop.

Its Farnborough office has been closed and all the staff have been made redundant.

In March, the board at Portillion confirmed that its application to the FSA for a banking licence has been withdrawn.

Portillion, formerly Checkmate Mortgages, was originally set up in October 2007 by industry stalwarts Stephen Knight and Martin Feingold, although the latter’s direct involvement ended a few months after.