Carrington Holding Company is crossing the ocean and expanding its footprint into the United Kingdom with the purchase of Clear Financial Solutions Limited.
CFSL is a residential mortgage brokerage firm in Scotland, which Carrington will rebrand and operate under the name Carrington Mortgage UK Limited.
Carrington plans to build a presence in many of Scotland’s larger metropolitan areas, starting with adding additional offices in Scotland and establishing a centralized operations center. Long term, Carrington plans to expand all 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,” he continued.