"Are You a CEO, Director, or Founder interested in a Feature Interview?"
All Interviews are 100% FREE of Charge
Purplebricks has launched Purplebricks Mortgages Limited and discontinued the Strike Financial Services brand.
The move will enable a team of more than 150 people to operate under the Purplebricks Mortgages name, allowing customers to benefit from an end-to-end home buying solution on the Purplebricks platform.
This mortgage offering will allow consumers to complete their purchase process on Purplebricks, from browsing and purchasing properties to securing the best mortgage rates through the platform.
As Strike Financial Services, the business reportedly facilitated more than 315 new mortgages per month this year and has serviced 1,150 mortgages in an average of 15.33 days to date in 2024. In 2024, more than 330 home loans will be offered to first-time buyers, reflecting the special expertise in this area across Purplebricks’ businesses.
Joanne Pocklington, MD of Purplebricks Mortgages, said: “The move to the Purplebricks name is the next step in our evolution within the group. Over the past three years, Strike Financial Services has become one of the UK’s leading mortgage advisers, and was recently named Mortgage Advice Bureau of 2024. Awarded the Top Business for Quality Award.
“The process of finding the right mortgage is critical to supporting the rise in home ownership in the UK. At Purplebricks Mortgages, we inherently understand the housing market and use this expertise to help our customers every day. Not only do we help our customers get the right deal, we also streamline the homebuying process so everything can be done under one umbrella.”
Sam Mitchell, CEO of Purplebricks, added: “The Purplebricks and Strike teams will leverage their experience and knowledge in the real estate industry as we transition to Purplebricks Mortgage. The latest step in Purplebricks’ commitment to customer satisfaction and the ability to buy and sell homes. We continue to highlight our dedication across our business to innovate and challenge processes.
“With increasing competition from banks for mortgage rates, our aim is to show buyers the range of trusted and specialist lenders available to support them through what can be a stressful and expensive journey.”
The company had previously proposed opening an in-house mortgage advice division as part of its “turnaround plan” after falling into the red in 2022.
The launch comes amid the company’s efforts to diversify its revenue streams after posting huge losses.
The plan was to return to positive cash generation in early 2024, according to current and former chief executive Helena Marston, but that didn’t happen.
Author
"Elevate Your Brand with an Exclusive Feature Interview!"
