Its full-year results showed this was slightly up on the previous year’s total of £35bn.
The division comprises Dynamo, Mortgage Intelligence and Countrywide Surveying Services.
Its revenue was flat at £1bn while its pre-tax profits fell from £111.3m to £67.5m.
The group’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also fell from £181.1m to £124.m annually.
Connells Group said its mortgage services fell by just three per cent despite the uncertainty in the market in the final quarter.
It increased the headcount of its mortgage consultants to 1,700 and launched new systems into its mortgage services.
‘Good progress across lender services’
Connells also said that its subsidiaries Dynamo and Mortgage Intelligence each had a “strong and profitable” year with the wider distribution opportunities bringing further benefits to the group.
Connells acquired the companies in 2021 following a buyout.
Adrian Scott (pictured), Connells Group’s lender services director, said: “We were pleased to see good progress across our lender service businesses for the majority of 2022, despite the more challenging landscape which saw eight base rate rises in the year.
“The final quarter did have a material impact on the mortgage market, yet throughout we maintained our focus on investing in our offering to benefit both lenders and customers.”
