Carrington Holding Company LLC has announced its entry into the United Kingdom with the purchase of Clear Financial Solutions Limited (CFSL), a residential mortgage brokerage firm in Scotland. Carrington will rebrand and operate the company under the name Carrington Mortgage UK Limited.
Carrington plans to capitalize on its proven competencies in the mortgage lending business and leverage the existing infrastructure of CFSL to build a presence in many of Scotland’s larger metropolitan areas. In the immediate future, the expansion plan for Carrington Mortgage UK calls for adding additional offices in Scotland and establishing a centralized operations center that will support lead generation and mortgage processing. Longer term, Carrington plans to expand the company’s reach across the UK.
“Carrington is acting on a timely business and market opportunity in the UK that allows us to actively leverage our core suite of capabilities and expand our footprint to effectively meet the needs of borrowers on an international scale,” said Carrington Holding Company Chief Operating Officer Dave Gordon. “Considering the optimistic outlook for Scotland’s real estate and mortgage markets, along with expectations for how this year’s regulatory changes will reshape the mortgage lending landscape in the UK, we believe that Carrington’s entry into Scotland and the UK is well-timed.”