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Purplebricks launches mortgage firm with access to ‘market-leading’ deals

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  • 30/04/2024
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Purplebricks launches mortgage firm with access to ‘market-leading’ deals
Purplebricks has rebranded Strike Financial Services as Purplebricks Mortgages to create its own mortgage advice business, nearly a year after being bought out by Strike.

This change will see more than 150 employees working under the Purplebricks Mortgages name, allowing customers of the estate agency group to receive an end-to-end homebuying service through its platform. 

The firm said customers could now undergo the complete purchase journey with Purplebricks, from viewing a property to purchasing. 

It will also provide in-house access to market-leading mortgage rates, the company said. 

Purplebricks sold its trading business and assets to Strike last year for a consideration of £1. 

Strike’s subsidiary Strike Financial Services has facilitated more than 315 mortgages per month so far this year, and it has seen 1,150 mortgages offered within 16 days. 

Of these, 300 mortgages were issued to first-time buyers, which Purplebricks said highlighted its expertise in this market.

 

‘Next stage of our evolution’

Joanne Pocklington, managing director of Purplebricks Mortgages, said: “Moving to the Purplebricks name is the next stage of our evolution in the group. Over the past three years, Strike Financial Services has become one of the UK’s leading mortgage advisers, recently winning Top Business for Quality at the Mortgage Advice Bureau Awards 2024. The process of finding the right mortgage is critical to supporting the growth in homeownership in the UK.

“At Purplebricks Mortgages, we innately understand the housing market and use this expertise to benefit our customers every day. Not only can customers get the right deal, we’ve also streamlined the house buying process with Purplebricks to allow everything to be done under one umbrella.” 

Pocklington was appointed operations director at Strike in 2022. Before that, she worked at London and Country Mortgages for five-and-a-half years, most recently as head of operations. Prior to this, she worked at Alexander Hall for nearly 16 years.

Sam Mitchell, CEO of Purplebricks, added: “The teams at Purplebricks and Strike will leverage their experience and knowledge in the property industry as we transition to Purplebricks Mortgages. In the latest step in the Purplebricks journey, we will continue to emphasise customer satisfaction and the dedication that runs throughout the business to innovate and challenge the process of buying and selling homes.

“With increased competition from banks on mortgage rates, our ambition is to show to buyers the range of trustworthy and expert lenders available to support them on what can be a stressful and costly journey.” 

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