| CG028-Mortgage Packager & Broker |
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United Kingdom
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INDUSTRY
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BUSINESS SUMMARY
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Mortgage Packager & Broker
Confidentially offered for sale
Ref No: CG028
Location: North London
Asking price: £990,000
This highly successful mortgage packager and broker was established by the current owner in 1993. Since that time it has developed strongly and is now recognised as the mortgage provider of choice in its locale, an area of North London, with very high housing density. In recent years, and in recognition of the growing importance and influence of the internet in the purchasing of services, a fully functional website has been developed at a cost of approximately £250,000. Professionally designed, hosted and maintained it now produces circa 80% of new business opportunities.
Circa 90% of business is generated as a mortgage packager: an intermediary who acts on behalf of other brokers to ‘package’ mortgage offers and who will undertake to complete the total administrative process from initial enquiry through to formal offer. The business currently provides packager services to twenty five independent brokers. The balance of the business of circa 10% is where the company acts as a broker directly on behalf of its own clients.
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BUSINESS FINANCIALS
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GENERAL COMPANY INFORMATION |
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Organization Structure: |
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Headquarters/Main Location: |
Home Based
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Time on lease/mortgage: |
N/A
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Is Business Relocatable? |
No |
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MARKET OUTLOOK/COMPETITION
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| The business will grow as a direct result of market expansion. However, accelerated growth can be achieved by investment in the recruitment of a small team of business development managers. This team would target the acquisition of additional brokers, who would use the company’s packaging services. The current group of twenty five brokers can be doubled in size will little need for additional underwriting and administrative resources |
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DETAILS ABOUT THE SALE
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Support & Training
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A full period of training, handover and familiarisation will be provided to ensure a smooth transition to new ownership. |
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Reason for Selling
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The current owner is looking to dispose of his interest in the business to enable him to focus on other business opportunities. |
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Is Management Willing to Stay?
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No
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Are You An Intermediary?
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No
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Web Site Design
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