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Battle for London begins

Coalitions are all the rage at the moment with Countrywide and Mortgage Advice Bureau seemingly inspired by the Conservatives and Liberal Democrats by teaming up to service high-net worth clients.

The joint venture, Capital Private Finance, has been the talk of the industry this week as rivals try to assess its impact.

The partnership will surely aim to be as strong as the coalition government and look to survive any future problems but, just like the government, it has rivals in the high-net worth sector such as Largemortgageloans.com and First Action Finance.

There is also Coreco, an appointed representative of MAB, that may be feeling as left out as Labour in the coalition talks right now.

Nonetheless it will seek to provide a stellar opposition to CPF and will go toe to toe with its network and investor.

Indeed the London-brokerage has mocked up a black and white picture of heavy hitters Nigel Stockton, financial services director at Countrywide, and Peter Brodnicki, chief executive of MAB.

Montlake claims there’s nothing threatening about the picture and rather than the Godfather it’s actually a homage to footballer Carlos Tevez’s welcome at Manchester City when he controversially transferred over from Manchester United in 2009.

“It’s nice to see some genuine competition in the capital,” Andrew Montlake, communications director at Coreco told Mortgage Strategy.

Let’s just hope that Stockton doesn’t find a horse’s head in his bed from Montlake any time soon!

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  • Stuart London 20th June 2011 at 3:53 pm

    Seems strange. Not many of my clients read mortgage strategy. Would Private Finance really care that much to write their own comment…..?

  • Stuart London 20th June 2011 at 3:53 pm

    Seems strange. Not many of my clients read mortgage strategy. Would Private Finance really care that much to write their own comment…..?

  • Mark Stroud 20th June 2011 at 11:11 am

    Hmmmmmm….. Do people who make payments on a 6 million complex offshore mortgage really have the time on a friday evening to sit there reading mortgage strategy I wonder?

  • Stuart 20th June 2011 at 10:50 am

    Never heard of Private Finance, so doubt they are worthy of a mention

  • Lyndsey 18th June 2011 at 6:48 pm

    No one has mentioned Private Finance who arranged a highly complex, offshore mortgage for me back in January. They were extremely professional at all times and demonstrated much expertise in providing me a bespoke solution for my £6million purchase. Of all the high net worth brokers I have used over the years, Private Finance win hands down.

  • Pauly Ortiz 18th June 2011 at 6:41 pm

    Now that First Action Finance have lost the Hamptons contract they have no business left and were never high net worth brokers anyway. Not sure why they are being mentioned under the HNW banner plus it is laughable that Nigel Stockton thinks that MAB brokers have experience in high end mortgage advice because they don’t. An £80k mortgage with no fee is not really high net worth……

  • Matt Cottle 18th June 2011 at 3:25 pm

    Well said Andrew and good luck. Too many anonymous digs on these comments pages.

  • Andrew Montlake 17th June 2011 at 4:54 pm

    This really is just a bit of cheeky fun and we genuinely welcome what will no doubt be some quality competition in London.

    Sometimes we can all take ourselves a little too seriously and after the few years we have all had it is nice to have some friendly banter back.

    Things have got a little stale in London of late so this should liven things up and there is plenty of business to go round for us all.

    It’s good to have some positive, fun stories.

  • kevin duffy 17th June 2011 at 4:27 pm

    …my , things must be slow on the news desk ! what tosh ! the london market is huge and there’s more than enough for everyone left standing . i wouldn’t think that Alexander Hall , Charcol , SPF or Knight Frank are exactly quaking in their boots !??