Property franchise company Belvoir has agreed an 8-year exclusivity agreement with Dacres to deliver financial services to its client base, as it revealed “good progress” among its financial services division.
Belvoir said the deal, with the 20 office estate agency network based in Yorkshire, is expected to contribute around £100,000 to the group’s operating profit in its first full year of operation.
The company also revealed following the acquisition of Brook Financial Services Ltd in July 2017 and MAB in November 2018, the group now has 160 advisers operating across the North, the South West, the Midlands and Wales.
It added in the ten months to October Belvoir’s financial services division has written 7,961 mortgages, recruited net 37 advisers (up 30% from December 2018) and contributed £1.9m of gross profit to the Group’s performance.
Looking ahead. Belvoir said its strategic objective is to increase both its geographical coverage of financial services across the UK and its market share in existing territories, achieved through the” recruitment of additional financial services advisers to work with both independent estate agencies and our group franchisees who will provide introductions to their clients”.
Dorian Gonsalves, CEO, said: “Our diversification into financial services is proving to be a real win-win for the group with growth arising from working with both our networks and independent agents.
“We are really excited to be taking on the financial services for Dacres. Our financial services team based in Barnsley is well placed to support their network and is looking forward to working closely with their offices to build up the level of mortgage sales delivered to their clients.”