CD Fairfield, one of the UK’s leading Non-Statutory and Statutory property debt specialists, based in Belfast has secured an exclusive two year rolling contract with Move With Us to be the sole approved provider of debt services to its group. Move With Us (MWU) is the UK’s largest network of independent estate agents, with over 1200 high street locations and is owned by London private equity investors Palamon Capital Partners. This new relationship will see CD Fairfield create 25 new jobs over the next 18 months, 21 in Belfast and 4 in Cambridge.
Speaking on the announcement, Phil Davison, Managing Director at CD Fairfield said: “This is a great result for all involved in CD Fairfield. It has taken over a year to deliver what is a hugely exciting development for the company. 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.
“The property market in mainland GB is experiencing a downturn with property still 20% 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 CDF are helping grow exponentially, thanks to this exclusive partnership with MWU.”
Speaking on the decision to partner with CD Fairfield, Ben Greco, Managing Director at Move With Us says: “MWU started working with CDF last year when some of its NI 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 homeowners. Its case studies really are testament to the help it gives and what can be achieved to mutually benefit all parties involved in those issues. With interest rates likely to rise further, property prices flat at best, landlord tax breaks being squeezed, and the wider market suffering from Brexit-based uncertainty, I think the number of property owners that may need this sort of individually tailored help with their debt and property situation will rise steadily in coming months.
Ben continues: “Our job is to bring the best processes and agent partners to the table to achieve the optimum sale results for all involved. All in all, I expect our relationship with CD Fairfield to grow closer and stronger as case numbers rise steadily and consistently. I am looking forward to developing this new partnership over the months to come.”
Founded in 2013 by Directors Philip Davison and Tom Cardwell, this is a significant development for the business, that currently has over 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 homeowners.
CD Fairfield, Director, Tom Cardwell adds: “This collaboration marks an exciting time for CD Fairfield and see significant financial development in our NI base. It will see the expansion of our team and the investment in new offices to house the increased capacity required.
“At CD Fairfield we have a unique service and the only company of our type to currently offer clients the full suite of potential property debt resolutions under one roof. By partnering exclusively with MWU and extending our reach as a company, this can only be good for the UK consumers.
“From day one our focus has been on our clients and as we continue to grow that will remain the cornerstone of our company philosophy.”