The Buy to Let Business, which was established in 2006 as a dedicated buy-to-let mortgage adviser, says the rebrand reflects the company’s evolution into a dynamic fintech business, catering for all sectors of the mortgage market and not just buy to let.
Dynamo was originally launched as a digital mortgage broker by Countrywide and Blenheim Chalcot, and is now part of the Countrywide Financial Services group.
Countrywide made a significant investment in The Buy to Let Business in 2016, which has resulted in technological developments and an increase in transactions not limited to buy to let.
Ying Tan, founder and chief executive, told Mortgage Solutions that the business now had more than 200 staff and had outgrown its name.
“Moving away from The Buy to Let Business brand is a bold move given its strength and reputation in the industry. We are proud of our humble beginnings and specialist heritage,” he said.
“We will not move away from these roots, however the modern mortgage market demands that we continue evolving to reflect our position in the market now, and in the future.
“Adopting the Dynamo brand was a logical choice at the perfect time. It has a natural synergy with our dynamic team, innovative approach and how we have advanced into more of a fin tech business. Dynamo has a 13-year proven track record, deep strategic relationships with lenders and an infrastructure for sustainable growth.
“I look forward to the next exciting phase in our development and competing with the biggest names from a broker and distribution perspective.”
Brokers must evolve
Tan also emphasised the importance of growing within the industry and evolving as a next generation broker.
“This is about moving into the next decade,” he continued.
“We want to be a major player in all areas of the market and it’s a bold move given our established name.
“We are hoping to grow on all fronts and hope that will be driven by systems that allow our consultants to get the best customer outcomes.”
And he warned that if broker firms did not recognise the importance of this path then they may not survive.
“A lot of brokers if they don’t evolve they are going to struggle. We are evolving and we are that next generation broker that wants to lead from the front.”