Purplebricks Retires Strike Financial Services in Favour of New Mortgages Arm

May 2, 2024
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UK challenger portal Purplebricks has replaced the Strike Financial Services brand with the launch of Purplebricks Mortgages Limited.

The new offering means consumers can complete their purchase journey with Purplebricks, from viewing and buying a property to securing a suitable mortgage through the Purplebricks platform.

150 staff will now operate under the Purplebricks Mortgages name.

Joanne Pocklington, managing director at Purplebricks Mortgages, said:

"Moving to the Purplebricks name is the next stage of our evolution in the Group.

"The process of finding the right mortgage is critical to supporting the growth in home ownership in the UK. At Purplericks Mortgages we innately understand the the housing market and use this expertise to benefit our customers every day.

"Not only can customers get the right deal, we’ve also streamlined the house buying process with Purplebricks to allow everything to be done under one umbrella."

Sam Mitchell, CEO at Purplebricks, said:

"The teams at Purplebricks and Strike will leverage their experience and knowledge in the property industry as we transition to Purplebricks Mortgages. In the latest step in the Purplebricks’ journey, we will continue to emphasise customer satisfaction and the dedication that runs throughout the business to innovate and challenge the process of buying and selling homes.

"With increased competition from banks on mortgage rates, our ambition is to show to buyers the range of trustworthy and expert lenders available to support them on what can be a stressful and costly journey."

Strike purchased Purplebricks for a nominal fee of £1 last year but it appears that Purplebricks is set to become the dominant brand name despite the change in ownership. The company lost £23.5 million in 2023.

May 2, 2024
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.

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