Countrywide has announced the signing of a joint venture with Mortgage Advice Bureau to launch a new financial services brand –Capital Private Finance.
Capital Private Finance will concentrate on providing Countrywide’s premium brands such as Hamptons International, John D Wood & Co., Faron Sutaria and UK Sotheby’s International Realty with a high-end financial service.
The new service will employ advisors who will provide specialist advice for high net worth clients on all financial matters including new property purchases, remortgages, buy-to-let, commercial, international, agricultural, new-build, renovation and development.
In addition, Capital Private Finance will provide advice on general and commercial insurance.
Nigel Stockton, financial services director at Countrywide, says: “This is an incredibly exciting proposition for us, giving us the ability to provide our high net worth clients with exceptional independent financial advice.
“This agreement forms a key part of Countrywide’s strategic plan to enhance our financial service offering and cater for high net worth individuals seeking independent financial guidance. It supports our overarching plans to capitalise on the opportunities in the specialised high-end property sector, through the largest network of prime residential agents.”
Stockton adds: “For the most part, we feel the private finance market has been under capitalised and we will be looking to attract the best private finance consultants in the industry to this exciting venture, which will be supported by our current partners and the world’s leading private banks.”
Peter Brodnicki, chief executive of Mortgage Advice Bureau, says: “Mortgage Advice Bureau’s ongoing aim is to find new opportunities to grow and lead in the market in which we operate.
“This agreement with Countrywide and subsequent launch of Capital Private Finance enables us to do exactly that, and provides a fantastic opportunity for all involved.”