UK End-to-End Challenger OneDome Acquires Mortgage Broker CMME Mortgage and Protection Limited for Undisclosed Sum

January 11, 2023
Share this Post: 

UK end-to-end challenger OneDome has bought CMME Mortgage and Protection Limited from CMME Group for an undisclosed amount, with CEO Babek Ismavil aspiring to service 10% of UK property transactions by 2028.

The acquisition, which also includes the immersion of CMME Mortgage's 65-person team into OneDome, will allow OneDome to significantly increase its mortgage brokerage capability and service its website clients.

CMME Mortgage and Protection Limited is a specialist contractor mortgage broker that handles upwards of £800M loans value per year. The acquisition also includes CMME's wealth management unit, which handles assets worth an estimated £130M.

OneDome will now be able to expand its mortgage offerings through its end-to-end platform.

This is the second acquisition by OneDome since its inception in 2019. The challenger bought—the UK’s first website to make land registry transaction data easily accessible to UK consumers—in 2019 as the challenger sought market share upon launch.

Babek Ismayil, CEO at OneDome, said:

"The property market is one of the few areas which has experienced limited impact from technology. The homebuying journey isn’t fit for purpose and has had little breakthrough innovation since the launch of classifieds like Rightmove in the early 2000s. Our goal is to make homebuying a faster, simpler and more enjoyable experience for everyone.

"We believe that our eHomebuying platform will change how we buy properties in the same way that e-commerce platforms changed how we shop forever. This is only our first acquisition of a mortgage brokerage, and we are in discussion with several other target firms. Our five-year goal is to service 10% of all property purchase and sales in the UK."

OneDome operates as an end-to-end home-searching, buying and selling service. Users follow a step-by-step process including mortgages, conveyancing to complete transactions faster and more efficiently.

The firm has invested heavily in its infrastructure in the past 12 months, including big-name hires with backgrounds in mortgages and finance, the launch of a multi-layered buyer passport product that allows customers to register their interest in properties while also pre-qualifying them for agents, and a new platform that lets agents monitor and manage referrals made through its portal.

OneDome is clearly not mentioned alongside the likes of Rightmove, Zoopla and OnTheMarket—but the challenger has marked a clear path that differentiates itself from the mainstream portals. Online Marketplaces spoke to CEO Babek Ismayil about his business in November 2020—watch the full video below:

January 11, 2023
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Zillow And Opendoor
Zillow and Opendoor Further Extend Their Partnership into 3 New Markets

US giant Zillow and Opendoor have expanded their home sales partnership into three new markets. The new markets are Houston,...

Read More
Ke Holdings Decoration
Chinese Leader KE Holdings Sees Net Losses Widen to $203m in 2022 As It Goes "from high-speed to high quality growth"

Leading Chinese real estate brokerage and portal company KE Holdings (aka Beike) has released a report on its performance for...

Read More
Property Finder Boardroom
PropertyFinder hires Frode Nordseth as VP of Product

Dubai-based marketplace Property Finder has hired Frode Nordseth as its new VP of Product. He announced his new role in...

Read More
Buyrentkenya Nairobi Skyline
"The ceiling for innovation is just infinite at this point" - Interview with BuyRentKenya CEO, Lizzie Costabir

Like the previous two portals we've spoken to in our Africa series, BuyRentKenya has been in the business for 10...

Read More

Editor's Pick