| | | BUSINESS FOR SALE ADVERT DETAILS | | | ADVERT VIEWED : 286,691 TIME(S)
BUSINESS REFERENCE : CG022 / RightBiz HIGHLY PROFITABLE MORTGAGE BROKERAGE | | | | | | Highly Profitable Mortgage Brokerage Confidentially offered for sale Ref No: CG022 Location:Relocatable Asking Price £695,000 Asking price includes: Significant High Profile and Blue Chip Client Bank Fee income of circa £250,000 per annum | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Mortgage Brokers | | SALE: | Agent Sale | LEASEHOLD: | £695,000 | | | | | | | | | | | BUSINESS DETAILS: | This web based mortgage company is not to be confused with the run of the mill brokerage.
It was established seven years ago by the present owners and was specifically designed to capture a blue chip customer bank with a requirement for significant mortgage borrowings. The net result is a company that generates ten to twelve top quality leads a day via a fully optimised web site.
Because of the nature of the site the level of pre qualification is high and conversion rates from enquiry to contract is around twenty percent. An average lend is £200,000 with many being significantly higher.
Because every type of mortgage has its individual characteristics the company has nineteen individual sites all of which have links back to the core business.
Equipment:
The business uses Tri-Gold software
Key Strengths:
The company has a very high profile web presence.
One of the real strengths of this operation is the method of gathering information. The prospective client completes a full FSA compliant fact-find on line and fills in a comments box describing the nature and size of the mortgage they require. They also confirm that they would like to be contacted. The enquiry is downloaded and a quotation is automatically generated by Tri-Gold Specialist Software and sent out for the prospective client for consideration. A follow up phone call is all that is normally required to confirm acceptance.
The business has an active database of over two and a half thousand regular clients across the UK. These are people who will actively look to re structure their mortgage on a frequent basis in order to maintain the best facility for their requirements.
The company has a total database of over eight and a half thousand customer details.
The operation has no borrowings and could easily be relocated to a location anywhere to suit the purchaser.
Growth and Expansion:
There is a massive opportunity to grow this business in a very short space of time. The database is not actively farmed at present and yet every individual has signed a form allowing the operation to contact them regarding additional financial services.
The business focuses most of its attention to a specific area of the mortgage market. It does not presently offer any additional products such as Life policies, Health insurance, Building insurance or Contents cover. Neither does it provide self certified mortgages or consider first time buyers. It is not active in the loans market.
Employees:
The day-to-day operations are managed and run by the owner with a limited amount of assistance from a two part time FSA qualified staff. Because of the nature of the business model overheads are extremely low.
Advertising and Marketing:
The only form of marketing is the web sites
Financial Information:
All financial information will be made avilable under the auspices of Turner Butler and subject to letters of confidentiality being signed. The owner of the business will be pleased to discuss the financial performance of the business in depth as part of the overall negotiation process. Fee income is circa £ 250,000.
Reason for Sale:
Additional commercial projects are taking priority over the mortgage business and as such the owner has decided to sell this company | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | CG022 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
