Hines Associates (“Hines”) is delighted to announce that it acted as financial adviser to CMME Group Ltd. and its owners on the sale of its subsidiaries CMME Mortgage and Protection Ltd. and Contractor Wealth Ltd. (together “CMME”).
CMME is a well-established advisory business offering mortgage and protection brokerage, and financial advice across the UK. As the original contractor mortgage specialist, the group works closely with lenders to deliver its exceptional mortgage advice, particularly to self-employed professionals. Over the last few years, CMME has developed a wealth management proposition to sit beside advice on mortgages and protection, to offer a more comprehensive financial advice solution to its customers. It arranges around £800M worth of mortgages per year which represents roughly 0.35% of the entire mortgage market and manages £130M of assets for its clients.
Hines was engaged to find a buyer for CMME to leverage its strategic, commercial and operating capabilities, provide development opportunities for advisers and employees, and offer clients continuity and enhanced service options.
OneDome is the technology company behind the World’s first eHomebuying platform – an e-commerce like ‘one stop shop’ digital homebuying experience. OneDome’s vision is to make homebuying as simple as buying an item online. It allows consumers to find a property, calculate affordability, speak to a mortgage adviser and get a lawyer, all in one place, all via the same platform. The acquisition will allow OneDome to significantly enhance its mortgage brokerage capability and service its clients.
Babek Ismayil, CEO of OneDome said:
“Our goal is to make homebuying a faster, simpler and more enjoyable experience for everyone. We believe that our eHomebuying platform will change the way properties are bought, in the same way that e-commerce platforms changed the way shopping is done forever.
Our five-year goal is to service 10 per cent of all property purchase and sales in the UK.
This is only our first acquisition of a mortgage brokerage, and we are in discussion with several other target firms.”