US agency reveals mortgage link ahead of imminent UK launch

Coldwell Banker Real Estate, the US-based international agency expected to launch in the UK over the winter, has signed up with one of Britain’s most respected mortgage brokers.

The aim of Coldwell Banker Great Britain, led by managing director Vic Pegna - who has worked in estate agency and financial services for two decades - is to have 50 branches by 2020 and 100 branches by 2025. 

Its first branches will be in London and it is believed to be planning to recruit franchise operators elsewhere in Britain at the National Franchise Exhibition taking place in February.

As part of its offer to British clients, it has now announced an exclusive deal with John Charcol which will act as the preferred supplier of mortgage advice to High Net Worth customers of the agency.

Peter Tsouroulla, a specialist HNW adviser at John Charcol, will lead the team handling referred cases. 

Earlier this year Budge Huskey, president and chief executive of the Coldwell Banker empire worldwide, said: "The region [UK] reflects similarly to the US housing market with approximately 65 per cent home ownership rate and an improving economy. London itself ranks as one of the world's top financial centers and therefore is critically important for us.”

It is reported that franchise operators will pay at least £25,000 to join the emerging British network with a six per cent royalty fee thereafter.