is expanding its reach across the pond with the purchase of a mortgage brokerage in Scotland.
Carrington Holding Company LLC has announced its purchase of Clear Financial Solutions Limited, which it will rebrand and operate under the name Carrington Mortgage UK Limited.
Carrington plans to leverage the existing infrastructure of Clear Financial Solutions to build a presence in Scotland’s larger metro areas. In the short term, Carrington Mortgage UK will add additional offices in Scotland and establish a centralized operation center for lead generation and mortgage processing. Eventually, Carrington plans to expand across the United Kingdom.
“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 Dave Gordon, chief operating officer of Carrington Holding Company. “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.”