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Basinghall launches with profit share pledge

Basinghall Finance has today formally launched its lending arm and has set up a profit sharing arrangement with its two broker distributors.

The pair, Savills Private Finance and John Charcol, will receive proc fees, but also a proportion of Basinghall’s profit.

The WestLB-backed lender, which is a joint partnership between the investment bank and Home Funding, has already acquired more than £1.3bn of UK residential mortgages through five portfolio acquisitions, but has now opened up itself to mortgage origination, with broker broker partners likely to be lined up in the coming months.

Home Funding chief executive Tony Ward says: “With its two-pronged strategy of portfolio acquisitions and partnerships, Basinghall has already secured more than a £1bn of mortgage portfolio acquisitions and is now kicking-off a series of partnership deals with two such prestigious names as John Charcol and Savills Private Finance to offer niche and competitive products to their customers.”


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