View more on these topics

Countrywide puts out profit warning after tough Q4


Countrywide has put out a profit warning for the 2017 year after “disappointing” sales in the final quarter.

Total group income for the full year is expected to be around £672m, down from £737m in 2016.

The lender’s Q4 2017 income is set to be £164m, compared to £179m in the last quarter of 2016.

EBITDA for 2017 is expected to be around £65m (2016: £83.5m).

The firm says its sales and lettings income for 2017 will be £360m, down 14 per cent on 2016.

Countrywide says this reflects “disappointing fourth quarter performance”.

Income in the UK business is expected to be around £205m, down 17 per cent year on year.

However, the firm’s financial services arm was strong in 2017. 

Countrywide says there was double-digit growth in its buy-to-let, Mortgage Bureau and Mortgage Intelligence businesses.

This was dragged down by Countrywide’s estate agency activities, meaning overall financial services EBITDA is set to be £20m (£2016: £22.6m).

The Company will announce its preliminary results on 8 March.



Countrywide to launch online broker Mojo Mortgages

Countrywide is launching an online mortgage broker called Mojo Mortgages with start-up assistant Blenheim Chalcot. Mojo will launch in early 2018. Countrywide already brokers mortgages face-to-face and over the telephone and says Mojo will widen its distribution options. Countrywide managing director for financial services Peter Curran (pictured) says: “This year already we have strengthened our […]


Hunt to leave Countrywide

Paul Hunt is set to leave Countrywide on September 8. Hunt has been working at the property firm as marketing director – financial services and B2B for just shy of nine years and has confirmed that he will depart next week. Hunt’s LinkedIn profile describes him as ‘soon to be seeking new opportunities’ in financial […]


The future of standard valuations is automated: Countrywide’s Wareham

Conveyancing firm LMS recently said it had seen a surge in remortgage activity and that a fifth of all those remortgaging were doing so to gain a better rate. To deal with this increased volume lenders, brokers and conveyancers alike want data that that can be processed quickly or is, as my colleagues increasingly put […]

Virgin Money and Countrywide partner for valuation instructions

Virgin Money has partnered with Countrywide Surveying Services to support new build, custom build and shared ownership borrowers. The move follows the lender launching a range of custom build and shared ownership products last month. Countrywide will provide a specialist and operational team dedicated to all new home valuation instructions, supporting borrowing on properties in […]


Guide: how to change your auto-enrolment support

As we approach the two-year milestone of auto-enrolment, employers have had the opportunity to truly assess the capabilities of their chosen support. They are also now realising that getting to the staging date was the easy part, and that support is required for almost every aspect of the day to day running of their scheme. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? This guide from Johnson Fleming aims to outline some of these key areas and provide information and discussion points on what you need to consider.


News and expert analysis straight to your inbox

Sign up