Talks between Countrywide and Savills Private Finance over a potential acquisition have collapsed, Money Marketing understands.
It is understood Countrywide has been in talks to buy Savills and the deal was nearing completion but has fallen through after negotiations stalled.
On Monday, Countrywide announced it is acquiring Bournemouth-based network Mortgage Intelligence, which will see the group’s share of the mortgage market rise to over 6 per cent and its share of the intermediary market to over 11 per cent. Countrywide refuses to disclose the price paid for the firm.
Announcing the acquisition of Mortgage Intelligence, Countrywide financial services director Nigel Stockton (pictured) said the company’s “long-term strategy is to improve the scope and scale of its financial services offering,” hinting that it would seek out further acquisitions.
Both Countrywide and SPF refused to comment.
Chadney Bulgin mortgage partner Jonathan Clark says: “I do not think the collapse of a deal with Savills would dissuade Countrywide from looking at other firms.”