BELFAST-based property debt specialists CD Fairfield has secured a £2 million two-year rolling contract with Move With Us (MWU) to be the sole approved provider of debt services to its group.
MWU, the UK’s largest network of independent estate agents with more than 1,200 high street locations, is owned by London private equity investors Palamon Capital Partners. The new relationship will see CD Fairfield create 25 jobs over the next 18 months, 21 in Belfast and four in Cambridge.
Phil Davison, managing director at CD Fairfield, said: “It has taken over a year to deliver what is a hugely exciting development for us. This allows us to bring our expertise to the widest possible UK market. Becoming a partner with a company of MWU’s size and scope can only be a validation of five years of hard work."
He added: “The property market in mainland GB is experiencing a downturn with property still 20 per cent below peak 2008 price levels in parts of the North of England and Wales and prices falling in London and the South.
"With interest rates expected to rise and the Bank of England warnings around house prices in the last week, we are posed to bring our specialist expertise to beleaguered buy-to-let landlords and those requiring property debt advice.
“With our experience and growth in this specialist area of debt management, coupled with the economic and fiscal outlook over the coming years looking less favourable for landlords in particular, we expect to see the number of clients we are helping grow exponentially, thanks to this exclusive partnership with MWU.”
Ben Greco, managing director at MWU, said: “We started working with CD Fairfield last year when some of its local property-debt cases required properties to be managed and sold in England and Wales. Being a leading residential asset manager, MWU were a good fit.
“CD Fairfield brings bespoke help to a range of property-linked debt problems for investors, accidental landlords or actual home-owners.
“Our job is to bring the best processes and agent partners to the table to achieve the optimum sale results for all involved. I expect our relationship with CDF to grow closer and stronger as case numbers rise steadily and consistently.”
Founded in 2013 by Philip Davison and Tom Cardwell, CD Fairfield has more than 650 retained clients and is regarded as the best specialist property debt company in the UK, settling over 500 cases with an average debt write down of £57,000 for buy-to-let landlords and home-owners.
