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Countrywide and Mortgage Advice Bureau launch Capital Private Finance

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.”

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PAUL BROADHEAD, HEAD OF MORTGAGE POLICY, BUILDING SOCIETIES ASSOCIATION
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  • larnosi 4th July 2011 at 5:19 pm

    have a look at this:

    http://better-loans.blogspot.com

  • r 17th June 2011 at 1:12 pm

    Countrywide have never had any faith in their own brokers that’s why their staff turnover is so high.

  • anon 17th June 2011 at 10:13 am

    Since Countrywide are tied and Mab are tied how can this be independant!

  • Daniel 17th June 2011 at 8:45 am

    Greedy men encourage people, with a lot of money, to get into more debt. How interesting!

  • Tina cardell 16th June 2011 at 11:56 pm

    It seems a shame that Countrywide had to launch this as a joint venture with MAB-have they not got advisers within their own group who would be capable of this task???-it says a lot for Cw belief in their own Brokers

  • Pauly Ortiz 16th June 2011 at 4:35 pm

    How much experience of HNW advice do brokers from Mortgage Advice Bureau have?? The answer is ZERO. Quite a jump from Savills to a low end mortgage operation. Strange logic and decision from Mr. Stockton. What next? Maybe a bunch of spotty teenagers from London & Country to work with Knight Frank perhaps!! Laughable……

  • Chris - Private Broker 16th June 2011 at 4:12 pm

    Mortgage Advice Bureau Private Clients sounds better. What’s with the ‘private’ business all the time?

  • Moz 16th June 2011 at 4:11 pm

    how is this news worthy!??

  • more of the same 16th June 2011 at 2:36 pm

    more of the same odl stuff – when will this industry try to evolve and do something different?

  • Dave McNulty 16th June 2011 at 2:08 pm

    Cobalt!!!

  • Jeremy 16th June 2011 at 12:53 pm

    Can one now assume that Hampton`s will inform Sheikh Mohammed that he cannot view any property or make an offer until he has seen the “independent” adviser ????? (age 19) and will the “independent” advice still be free ? no pressure ? and cover the whole of the (proc fee paying) market as it currently does ? Direct products ? Never heard of any !!!!!!!

  • kevin duffy 16th June 2011 at 12:41 pm

    …appears to be a neat deal & not before time really . good luck to all though nobody should need it as everything is in place to produce
    cobolt- blue sky figures !