Belvoir CEO Dorian Gonsalves has announced that all of Belvoir’s 300 High Street offices are now able to enhance their business through the services of an in-house mortgage adviser.
“This is a very exciting new addition to Belvoir’s business model, which will greatly benefit clients and franchisees,” says Dorian. “Belvoir has been successful for the past 23 years and until recently our franchisees were able to operate a property management business that allowed them to let and sell properties, but now they can also, at no extra cost, have their very own mortgage adviser on site, which provides the potential for a very lucrative partnership.
“This new opportunity for Belvoir franchisees to develop a financial services division within their business has arisen thanks to Belvoir’s recent acquisition of MAB (Gloucester) Limited, making Belvoir the largest Mortgage Advice Bureau key account, adding 64 new offices to the network, and 127 mortgage advisers. This is in addition to our acquisition of Brook Financial Services In July 2017.
“Belvoir is becoming firmly established in the estate agency business, completing on over 6000 sales each year, with estate agency not having yet been rolled out across the whole network, and so there are massive opportunities for new and existing franchisees. Franchisees of the Belvoir Group, which is a multi-brand franchise that includes Northwood and Newton Fallowell, will now have the ability to ‘build a business within a business’ by either utilising the services of an existing mortgage adviser or employing their own mortgage adviser on-site. Importantly, there will be no extra charge for any franchisee who wishes to take on a mortgage adviser. Some of our existing individual mortgage advisers are already writing over £250,000 of new business on an annual basis and so this is lucrative income stream, which not only creates new revenue for our franchisees, but also enhances the value of a franchise when the owner decides to sell and realise the value of their asset.
“Many of Belvoir’s franchisees have been with us for 15-20 years, including our very first franchisee, whose businesses continue to thrive and grow. Our franchisees work from strongly branded, highly professional High Street Offices and are able to maintain longstanding and personal relationships with their clients and now able to handhold them throughout every stage of the lifetime of their property journey, right through from initial purchase for either investment or residential purposes, ongoing property management, specialist wealth management, re-mortgaging and sales.
“This year has been one of tremendous achievement for Belvoir in terms of acquisitions, and our Assisted Acquisition Programme for franchisees has been extremely successful, exceeding £6 million of additional turnover for our franchisees nationwide. By the end of 2018 Belvoir will have acquired 26 businesses, expanded our managed portfolio by 4,211 and established three important new territories, with new franchisees.
“Our plans for next year are well under way, and we are already discussing many more exciting new acquisition opportunities for 2019.