CMME is broker that arranges around £800m of mortgages a year. As part of the deal, OneDome also acquired CMME Group’s wealth management unit, a business with £130m of assets under management.
CMME’s team of 65 will join the OneDome Group as part of the deal.
OneDome is behind eHomeBuying platform – a ‘one stop shop’ digital homebuying experience.
The acquisition of CMME will allow OneDome to significantly increase its mortgage brokerage capability and service its website clients, the firm said.
This is the second acquisition by the tech firm after buying Nethouseprices.com in 2019, to make land registry transaction data more easily accessible to UK consumers.
OneDome: ‘Property market…has experience limited impact from tech’
Babek Ismayil, chief executive of OneDome said: “The property market is one of the few areas which has experienced limited impact from technology.
“The homebuying journey isn’t fit for purpose and has had little breakthrough innovation since the launch of classifieds like Rightmove in the early 2000s.
“Our goal is to make homebuying a faster, simpler and more enjoyable experience for everyone.
“We believe that our eHomebuying platform will change how we buy properties in the same way that e-commerce platforms changed how we shop forever. This is only our first acquisition of a mortgage brokerage, and we are in discussion with several other target firms.
“Our five-year goal is to service 10 per cent of all property purchase and sales in the UK.”
