Just Mortgages, the financial advisory business of estate agency chain Spicerhaart, is ditching Legal & General to become an appointed representative of Openwork.
It will mean Just Mortgages, which has more than 130 advisers, will become Openwork’s largest mortgage-focused AR firm.
The company will leave Legal & General to join Openwork in March.
Antony Lark, managing director of Just Mortgages, said: “I have been working with Openwork for more than a year on this and I am pleased we have been able to strike up this partnership.
“We thought long and hard about the best route to take and met with a number of different networks and mortgage clubs, but we determined that Openwork’s network model was the best fit for our business now and into the future.”
As part of the move, Just Mortgages will retain a single-tie arrangement with L&G for protection, while its advisers will have full access to Openwork’s whole-of-market mortgage proposition.
Just Mortgages currently serves Spicerhaart clients across its estate agencies, including haart, Darlows, Felicity J Lord, Haybrook, Chewton Rose and Spicer McColl.
Mark Duckworth, chief executive of Openwork, said: “This is a compelling partnership that will enable Just Mortgages to benefit from our whole-of-market mortgage proposition and market clout – we expect to complete more than £10bn-worth of mortgages this year.”
Just Mortgages joins Openwork, only three months after John Cupis joined as mortgage director, in a move that completed the restructure of the network’s core distribution business.
He joined Openwork from Sesame Bankhall Group, having been managing director of mortgages for eight years until the start of September, when it was announced he was parting ways with the Friends Life-owned intermediary.