FIRST MORTGAGE DIRECT LIMITED has acquired the Financial Services (Mortgage) division of Kinleigh Folkard & Hayward for an undisclosed amount. Kinleigh Folkard & Hayward (KFH), established in 1977, is one of London's largest independently owned and managed property services groups. With its Head Office in Wimbledon, KFH operates 60 branches across London and employs over 800 staff, offering a comprehensive suite of services including residential sales, lettings, property management, and surveying, in addition to its now-acquired mortgage services arm. This transaction specifically involves the purchase of KFH's mortgage advisory operations, not a funding round for either company.
For FIRST MORTGAGE DIRECT LIMITED, this acquisition represents a strategic expansion of its market presence and service capabilities within the competitive London property finance sector. It gains an established mortgage brokerage operation, including its client base, referral network, and team of advisors, which have been cultivated through KFH's extensive property business. The move is expected to significantly bolster FIRST MORTGAGE DIRECT LIMITED's footprint and enhance its offering to a wider range of property buyers and owners.
From Kinleigh Folkard & Hayward's perspective, the divestment of its mortgage division allows the group to sharpen its focus and allocate resources more intently on its core property sales, lettings, and broader property management services. While divesting, KFH can continue to ensure its property clients have access to specialized mortgage advice by potentially partnering with a dedicated provider like FIRST MORTGAGE DIRECT LIMITED, streamlining its operational structure.
The integration of KFH's mortgage division into FIRST MORTGAGE DIRECT LIMITED is anticipated to create immediate synergies, combining KFH's established client relationships and in-depth understanding of the London property market with FIRST MORTGAGE DIRECT LIMITED's focused expertise in mortgage advisory. The combined entity is poised to offer enhanced and more comprehensive mortgage solutions, aiming to deliver greater value and a seamless experience to customers navigating the property market. This acquisition strengthens both companies' positions, with FIRST MORTGAGE DIRECT LIMITED emerging as a more significant player in London's mortgage landscape.