Belvoir Lettings founder steps down as firm makes £2m swoop
Grantham-based property franchise giant Belvoir Lettings has bought Barnsley mortgage broker Brook Financial Services, which trades as Mortgage Advice Bureau, for £2m – as the firm’s current chief executive standing down.
Mike Goddard, founder, executive chairman and chief executive officer will be standing down as chief executive officer as of today (13 July), but will continue as chairman. Dorian Gonsalves, currently chief operating officer, will take over the role of chief executive officer with immediate effect.
Brook, which trades as Mortgage Advice Bureau, is an appointed representative of AIM-listed Mortgage Advice Bureau (Holdings) (MAB), the networks for mortgage intermediaries.
Brook will continue its long-term relationship with MAB whilst introducing new mortgage products and services to the Belvoir Group.
The company operates from offices in Barnsley with a team of 32 staff and advisers. Michelle Brook, the founder and sole shareholder and director, has worked within the financial services sector for over 30 years, setting up Brook Financial Services in 2010. She will continue working full time as the managing director of Brook.
Mike Goddard, chairman, Belvoir, said: “We are delighted to be announcing the acquisition of Brook. Having focused on growth plans to create an enlarged group of franchise networks and offices over the past two years, the acquisition of Brook will enable both individual franchisees and the Group to benefit from greater penetration of its client base and the increased revenue arising from the sale of financial services associated with property sales across all group networks.
“Also, with effect from today, I have stepped down from my role as chief executive officer but will continue as chairman. Having worked closely with Dorian Gonsalves as chief operating officer for over 13 years, I have every confidence that he has the necessary experience and vision to take the Group into the next phase of its strategic growth across the UK. I look forward to continue working with him in his new role.”
Michelle Brook, managing director at Brook added: “The acquisition today of Brook by Belvoir represents a significant milestone for the business and provides the opportunity to grow sales of financial service products within the Belvoir group. Brook has a fantastic team of experienced advisers and a solid support structure operating within the Mortgage Advice Bureau network from which the Belvoir Group will benefit.”
