Berkshire Hathaway (BRK.A), the investment vehicle run by American business magnate Warren Buffett, is launching a new financial advisory firm to help clients scope out mortgages in the London property market.
Connaught Private Finance, the advisory firm, will be launched as a division of Berkshire Hathaway HomeServices Kay & Co, a leading luxury London estate agent that is itself part of the Buffett empire.
Known as the “Oracle of Omaha”, Buffett has a reputation as one of the world’s most successful investors.
He is the CEO of Berkshire Hathaway, which owns more than 60 companies.
Connaught Private Finance will be “a one-stop solution” for clients who want expert advice on all residential and buy-to-let mortgages, commercial, development, and bridging finance, the estate agent said this week.
The advisory firm will be led by John East, an experienced mortgage broker, and David Longhurst, an expert in mortgage solutions and insurance matters.
Martin Bikhit, managing director of Berkshire Hathaway HomeServices Kay & Co, said that the speed of the London property market prompted them to extend its services into the mortgage advisory sspace.
“The London property market moves fast, and buyers are required to make a quick decision on whether they can make an offer or not. Mortgages play a vital role in this process, which is why we felt the need to extend our service offering accordingly,” said Bikhit.
“We are absolutely delighted to have the strength of Connaught’s experienced team on our side, which we know will be very much appreciated by our clientele.”
Berkshire Hathaway HomeServices Kay & Co was formed in 2018 when Kay & Co, a leading real estate firm, signed a franchise agreement to join Berkshire Hathaway Home Services, a division of Berkshire Hathaway.
Buffett is known to take a long-term view and waits for investment he considers bargains.