Openwork is to offer a dedicated mortgage service for high net-worth clients via Capricorn Financial, one of its largest and fastest growing mortgage practices.
The agreement will see Capricorn Private Clients, the mortgage broker’s large loan team, arrange specialist financing for Openwork advisers and their UK and international clients seeking mortgages over £1m.
Capricorn, an appointed representative of Openwork since 2006, launched in 2005 and now has 32 advisers working across four London offices.
It expects to arrange more than £1bn of lending this year.
Openwork, which has seen mortgage lending soar almost 50 per cent year-to-date, compared with the same period last year, is aiming to lend more than £10bn in 2016.
John Cupis, mortgage director at Openwork, said the move “adds another important weapon to the Openwork armoury both in the mortgage arena and more broadly in terms of building our capabilities to support our advisers’ wealthier clients”.
