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Digital broker Burrow eyes sale

Houses, house, property, monopoly

Digital mortgage broker Burrow, formerly Dwell, is looking to sell all or part of its business, Mortgage Strategy understands.

Dwell launched last January as an online broker to challenge traditional intermediaries.

The firm wanted to abolish the traditional ‘agreement in principle’ stage of mortgage applications and said traditional fact finds were “rudimentary” and often inaccurate.

In October 2017, the firm rebranded as Burrow, and this year switched to a B2B model to sell directly to brokers and lenders.

Well-placed sources say Burrow is now considering a whole or partial sale as part of the future of the firm.

Burrow chief executive Pradeep Raman would not confirm or deny the sale rumours.

He says: “No comments on this. It’s just speculation.”

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