Andrews has re-launched into mortgages with a major new joint venture.
In partnership with Mortgage Options, the estate agency chain has co-founded a company that will trade as Mortgage Options (Partnership Division) and will be run by Rob Everett, founding director of Mortgage Options.
As part of the agreement, Andrews has invested in Mortgage Options.
The new company will become an appointed representative of Legal & General Network and will form the eighth largest mortgage and protection AR intermediary firm within the Legal & General network, with the ambition to become number one.
The new Mortgage Options (Partnership Division) will offer mortgage and protection advice to clients throughout the country, both directly and through estate agencies.
Mortgage Options will now be looking to recruit an elite group of mortgage and protection advisers to become partners in the business; these adviser partners will be amongst the best in the country.
Andrews Estate Agents has more than 80 branches and has been established since 1946. Based in the south of England, Andrews complements Mortgage Options, which is based predominantly in the north, both in terms of business structure and geographic location.
The two companies have come together based on the same ethical approach towards doing business. Andrews is, uniquely, owned by charities to which it hands over a proportion of its profits.
Mortgage Options prides itself on an ethos of transparency, professionalism and quality which has resulted in consistent profit for the group, even during the most difficult economic conditions.
Everett said: “Mortgage Options’ partnership with Andrews will strengthen both companies. It will enable Andrews to increase its penetration of the financial services advice market, while Mortgage Options will have a new proposition for both advisers and clients, and it will increase the number of estate agencies through which they operate.
“The move to Legal & General makes perfect sense for Mortgage Options and its advisers. Andrews’ financial services arm has been an Appointed Representative of L&G for six years and it makes sense for our new company to do the same.”
Chris Chapman, Financial Services Director of Andrews, said: “This aggregation of business with Mortgage Options will ensure the stability and growth of both firms, in what is currently a difficult financial market.”
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