Chancellors has acquired a majority stake in the brokers Alexander James Mortgage Services.
The deal means that the Bracknell-based firm – one of the largest independently owned estate agencies in the UK with 52 branches across the Home Counties, Oxfordshire, Herefordshire and London – now owns the majority shareholding of the business with the remainder held by existing managing director Nigel Glossop.
With advisers in an increasing number of branches across Chancellors’ network, and more planned for 2016, AJMS has experienced exceptionally strong growth with the business more than doubling in size over the last 12 months.
Similar growth is expected in 2016.
AJMS was started by Glossop and now has 18 advisers with the business’ growth supported by Mortgage Advice Bureau. AJMS now plans to extend its traditional and telephone based mortgage services operation to other Chancellors’ branches, as well as independent estate agency businesses across the south.
Chancellors’ operations director Darren Simpson says the firm will now be launching “a significant recruitment campaign” to attract further high quality mortgage brokers to AJMS.