Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Hannah Baker

Rightmove rival OneDome takes over Bristol mortgage broker in pre-pack administration deal

The subsidiaries of a Bristol mortgage finance company that fell into administration last month have been sold off in a pre-pack administration deal.

CMME Group Limited is a non-trading holding company that appointed administrators from Interpath Advisory in December. Its two trading firms - CMME Mortgages and Protection (M&P) and wealth manager Contractor Wealth Management (CWM) - were sold off to OneDome Finance, a subsidiary of London-based property platform OneDome.

Neither M&P or CWM entered an insolvency process and continue to trade under the control of the directors. CMME's 65-strong team have joined the OneDome Group as part of the transaction.

OneDome was launched in late 2019 by London-based Babek Ismayi and now competes with some of the UK's biggest property platforms including Rightmove and Zoopla.

CMME Group is owned by private equity firm Livingbridge and provides specialist mortgage brokering and wealth management services. Josh Dwyer and Richard Heis of Interpath Advisory were appointed joint administrators of CMME Group on December 22.

Immediately following their appointment, the joint administrators undertook a transaction to sell the company’s shares in the firm's trading arms - M&P and CWM. While the sale of CWM exchanged and completed simultaneously, the sale of M&P remains subject to Financial Conduct Authority approval and will complete at a later date, the administrators said.

Josh Dwyer, managing director at Interpath Advisory and joint administrator, said: “We are pleased to have secured these transactions, which will allow new investment to flow into both M&P and CWM. We wish the management teams all the very best for the future.”


Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.