DACRES SELLS FINANCIAL SERVICES DIVISION TO BELVOIR GROUP PLC
The Dacre, Son & Hartley financial services business had operated through its subsidiary company - Purely Mortgage Consultants Ltd (PMC) - for the last six years, and the sale will allow increased investment in this important business sector.
PMC acted as an appointed representative of Mortgage Advice Bureau (MAB) and the firm enjoyed considerable growth over recent years. As well as providing independent mortgage advice to Dacre, Son & Hartley’s clients in Yorkshire, PMC also worked for a number of other estate agency firms with a geographical reach across parts of South Yorkshire, North East Lancashire and the Lake District.
Patrick McCutcheon, head of residential at Dacre, Son & Hartley, said: “The Board have been reviewing the next stage of our financial services strategy for some months now, to see how we can drive the business even further. This new and exclusive introductory arrangement with Belvoir Group PLC, through their subsidiary Brook Financial, will see the existing team of four mortgage consultants and all of the business operations move over to Belvoir’s ownership, whilst still being based within our office network.
“Brook Financial are also appointed representatives of MAB, so the transfer will be seamless with rapid developments that include enhanced training and additional advisors within our network of 20 offices.”
Belvoir CEO, Dorian Gonsalves, said: “We continue to capitalise on the success of our financial services division, and are delighted to announce an exciting new eight year exclusivity agreement with Dacre, Son & Hartley. Our financial services team, which is based in Barnsley, is very well placed to support their network and is looking forward to working closely with all 20 offices to build up the level of mortgage sales delivered to their extensive client base. The existing team of four advisers will continue to be based at the Dacre, Son & Hartley offices in Yorkshire. In addition, we plan to introduce two more advisers to this team before the end of this year, and a further four new advisers by the end of next year, which will then provide ten advisers to support the Dacre, Son & Hartley network.
“This is a great opportunity for everyone. The Dacre, Son & Hartley network can benefit from the economies of scale and levels of expertise that Belvoir is able to provide, and Belvoir can benefit from an increasing share of the Yorkshire financial services market. This is in line with Belvoir’s strategic objective to expand geographical coverage across the UK and increase penetration of existing territories through the recruitment of additional financial services advisers to work with both independent estate agencies and our Group franchisees who will provide introductions to their clients.”
Patrick added: “We believe that Belvoir’s management team share our values on customer service and growth, and can deliver what we require to satisfy our own internal needs as well as those of our valued customers. We are looking forward to engaging fully and working with the Belvoir Group to drive our mortgage proposition to even greater heights.”
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