OneDome plans more purchases after mortgage broker acquisition

Challenger portal and homebuying support platform OneDome has acquired broker CMME Mortgage and Protection from the private equity-backed CMME Group.

CMME Mortgage and Protection is a well-established mortgage brokerage and financial services provider in the UK. 

It arranges around £800m of mortgages per year which represents roughly 0.35% of the entire mortgage market. 

As part of the transaction, subject to regulatory approval, OneDome also acquired CMME Group’s wealth management unit, Contractor Wealth Management, a business with £130m of assets under management. CMME’s 65 strong team will join the OneDome Group as part of this transaction.  

OneDome said the acquisition will help increase its mortgage brokerage capability and service its online clients. OneDome has also partnered with several estate agents and housebuilders to provide their clients with property transaction management service via its eHomeBuying platform.  

This is the second acquisition by OneDome. In 2019, to launch its property search website, OneDome acquired popular consumer website nethouseprices.com.

Babek Ismayil, chief executive of OneDome, said: “The property market is one of the few areas which has experienced limited impact from technology. 

“The homebuying journey isn’t fit for purpose and has had little breakthrough innovation since the launch of classifieds like Rightmove in the early 2000s. 

“Our goal is to make homebuying a faster, simpler and more enjoyable experience for everyone. 

“We believe that our eHomebuying platform will change how we buy properties in the same way that e-commerce platforms changed how we shop forever. This is only our first acquisition of a mortgage brokerage and we are in discussion with several other target firms. 

“Our five-year goal is to service 10% of all property purchase and sales in the UK.”