OneDome acquires CMME Mortgages for undisclosed sum
Portal OneDome has acquired CMME Mortgage and Protection from Livingbridge backed CMME Group for an undisclosed sum.
Portal OneDome has acquired CMME Mortgage and Protection from Livingbridge backed CMME Group for an undisclosed sum.
The deal is subject to receiving change in control approval from the FCA.
CMME Mortgage and Protection arranges around £800 million worth of mortgages per year – around 0.35% of the market.
WEALTH
OneDome has also acquired CMME Group’s wealth management unit, Contractor Wealth Management, a wealth management business with £130 million of assets under management. CMME’s 65 strong team will join the OneDome Group as part of the deal.
Our five-year goal is to service 10% of all property purchase and sales in the UK.”
Babek Ismayil, Chief Executive of OneDome, says: “The property market is one of the few areas which has experienced limited impact from technology.
“The homebuying journey isn’t fit for purpose and has had little breakthrough innovation since the launch of classifieds like Rightmove in the early 2000s.
“Our goal is to make homebuying a faster, simpler and more enjoyable experience for everyone.
“We believe that our eHomebuying platform will change how we buy properties in the same way that e-commerce platforms changed how we shop forever.
“This is only our first acquisition of a mortgage brokerage, and we are in discussion with several other target firms. Our five-year goal is to service 10% of all property purchase and sales in the UK.”
ALTERNATIVE
OneDome launched its property listing website in late 2019 as an alternative to Rightmove and Zoopla.
It has also partnered with several estate agents and housebuilders to provide their clients with property transaction management service via its eHomeBuying platform which enables buyers to find a property, apply and get a mortgage and complete the conveyancing process online in one place.
This is the second acquisition by OneDome. In 2019, to launch its property search website, it snapped up consumer website nethouseprices.com, the UK’s first website to make land registry transaction data easily accessible to UK consumers.
