Property giant extends financial services division

Grantham-headquartered property group Belvoir has struck an exclusivity agreement with one of the largest independent estate agents in the North of England.

The eight-year agreement with Dacre, Son & Hartley, a 20-office estate agency network based in Yorkshire, is part of a diversification plan to increase the group’s geographical coverage of financial services across the UK.

In 2016 the company identified financial services as a valuable additional revenue stream for both its franchisees and the group as a whole.

The deal will see Belvoir deliver financial services to Dacres’ extensive client base. The agreement is expected to contribute around £100,000 to the Belvoir’s operating profit in its first year of operation.

Following the acquisition of Brook Financial Services in July 2017 and MAB (Gloucester) in November 2018, the Belvoir Group now has 160 advisers operating across the North, the South West, the Midlands and Wales.

Its financial services division contributed £1.9 million of gross profit to the group’s performance in the ten months to October.

Belvoir CEO Dorian Gonsalves said: “Our diversification into financial services is proving to be a real win-win for the group with growth arising from working with both our networks and independent agents.  We are really excited to be taking on the financial services for Dacres. Our financial services team based in Barnsley is well placed to support their network and is looking forward to working closely with their offices to build up the level of mortgage sales delivered to their clients.”