Chesterton buys stake in Springtide

Property consultant Chesterton Humberts is acquiring a stake in mortgage firm Springtide Capital.

Chesterton has not revealed the size of its investment but as part of the deal Springtide will operate as Chesterton’s exclusive intermediary for mortgage referrals.

Chesterton’s investment will enable Springtide to expand its London and Edinburgh operations and develop its proposition in the South-West and Midlands through Chesterton’s network of offices.

Robert Bartlett, chief executive officer of Chesterton, says: “The timely provision of mortgage offers is an essential part of the sales process and we see value in expanding our relationship with a firm that offers a professional service.”

Henry Knight, managing director of Springtide, says: “We have worked closely with Chesterton branches and are delighted to be expanding our association with it.”