The property services group, which includes the largest mortgage broker in the UK, has partnered with venture capital investor Blenheim Chalcot to build the business.
The launch of Mojo Mortgages will extend Countrywide’s mortgage channels to include online offerings. Countrywide said it would continue to invest in its face-to-face, telephone and online offerings.
As part of the launch it is also producing a set of digital tools for advisers.
Countrywide managing director for financial services Peter Curran said the business was pleased to be forming the joint venture with Blenheim Chalcot.
“This year already we have strengthened our telephony mortgage sales channel and invested in technology to support our mortgage advisers,” he said.
“We plan to continue to grow all three channels as we offer a truly multi-channel proposition. This includes increasing our adviser force in the field, further strengthening our telephony team in Camberley and now, through our partnership with Blenheim Chalcot, we’re able to offer digital tools to our advisers and launch a consumer-facing online mortgage proposition to further enhance the choice we give our customers.”
Blenheim Chalcot managing partner for fintech Dan Cobley added that Countrywide had unprecedented understanding of the mortgage industry.
“Combining that with our 20 years’ experience of building digital platforms and businesses is a winning formula. Together we will build the best possible customer journey through any channel,” he said.
In 2016, Countrywide exchanged on over 60,000 homes, representing £19bn worth of property, while it’s broker arm completed more than £15bn of mortgages. The company also manages more than 90,000 properties.
Blenheim Chalcot was founded in 1998 and specialises in building digital businesses. It has portfolio sales of more than £300m with more than 3,000 employees.