Estate agent group buys majority stake in mortgage firm

Leading independent Chancellors has bought a majority stake in a broking firm, Alexander James Mortgage Services.

The remaining shareholding will be held by existing managing director Nigel Glossop, who founded the firm.

The business, which more than doubled in size last year, is supported by the Mortgage Advice Bureau, with which it has just renewed a five-year contract.

As well as advisers in Chancellors’ own branches, the mortgage business plans to expand into other independent agents across the south.

The Chancellors group has 52 branches across the Home Counties, Oxfordshire, Herefordshire and London. It disposed of a previous financial business some years ago, as part of a wider transaction.

Chancellors’ operations director Darren Simpson said: “We are delighted to have partnered with Nigel and MAB, with whom we have a great working relationship.

“This will give Chancellors a solid financial services offering for our vendor and landlord clients, as well as the 10,000 plus purchasers who register with us every month.”

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One Comment

  1. ChippyJames

    Chancellors used to have their own financial advisors about 8/9 years ago but sold it off.  It does show how the industry has changed and now there is a need to provide end-to-end solutions for customers

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