Connells Group today announces total revenue of £1bn and EBITDA of £181.1m in its financial results, including another excellent year for its Mortgage Services business. Within these results, the Group’s mortgage business increased revenue by £75m in the year and also reported that, across all distribution, lending of £35+bn was generated, representing a 15%*1 increase from 2020 on a like-for-like basis.
Following the acquisition of Countrywide in March 2021, the Group’s mortgage business embarked on the largest integration project in the company’s history, to optimise the alignment of its estate agency mortgage business models. Now, it is looking to build on its success, with further investment and growth planned for 2022, in particular looking to grow beyond the current 1,300 mortgage consultants.
“2021 was a fantastic year for us, bringing together Connells Group and Countrywide,” says Adrian Scott, Connells Group Mortgage Services Director. “We’re incredibly proud of the work that has gone into aligning two substantial estate agency based mortgage businesses, as well as supporting our wider distribution businesses as they strengthen their respective positions in their specialist markets.”
These subsidiaries have also benefitted from being part of the enlarged Group:
- Mortgage Intelligence continued to build on its strong proposition, with investment in technology, training and marketing to support its members in developing their businesses;
- Both The New Homes Group and Mortgage Bureau strengthened their market-leading position in the new build sector, including the development of their new mortgage qualification tool, Stone, which generates qualified customers for new build developers;
- Dynamo, the call centre based mortgage and protection broker, achieved excellent results in 2021 and enhanced its specialist proposition in the marketplace.
“Looking ahead, we see plenty of opportunity for further business growth across our entire distribution. We will continue to invest at scale in our people and technology, to stay ahead of the curve of innovation in the industry and ensure the customer journey is as efficient as possible,” Adrian concludes.
Notes to editors:
*1 Combined Connells Group and Countrywide figure for full year on a like-for-like basis