Openwork is to offer a dedicated mortgage service for high net worth clients via Capricorn Financial, one of its largest and fastest growing mortgage practices.
The agreement will see Capricorn Private Clients, the mortgage broker’s large loan team, arrange specialist financing for Openwork advisers and their UK and international clients seeking mortgages over £1m.
Capricorn, an AR of Openwork since 2006, launched in 2005 and now has 32 advisers working across four London offices. It expects to arrange over £1bn of lending this year.
Openwork, which has seen mortgage lending soar almost 50% year-to-date compared to the same period last year, is aiming to lend more than £10bn in 2016.
John Cupis, Mortgage Director at Openwork, says: “We are excited to announce that Openwork advisers will now be able to arrange financing for their high net worth clients via Capricorn. This adds another important weapon to the Openwork armoury both in the mortgage arena but also more broadly in terms of building our capabilities to support our advisers’ wealthier clients. Capricorn is an impressive and ambitious business with exceptional lender access and this agreement further cements our relationship while demonstrating the strong appeal of the Openwork proposition.”
Conor Murphy, Chief Executive at Capricorn Financial, says: “We are delighted to offer our services to Openwork advisers seeking larger loans for their clients. We pride ourselves on the strength of our relationships with a wide variety of lenders, from those on the high street to offshore and international banks, and we believe our expertise and guidance can help advisers get the right deal for their clients whether they be non-dom, expat or simply in need of a large loan.”