Rightmove Van Mildert Takeover Is OK

Rightmove’s acquisition of tenant referencing and rent guarantee insurance provider Van Mildert has completed following approval from the Financial Conduct Authority.

Rightmove purchased Van Mildert Landlord and Tenant Protection Limited for an initial £16m, potentially rising to £20m, at the end of July. However, the acquisition could not be finalised until Rightmove received FCA approval to become a financial services provider.

Rightmove plc CEO Peter Brooks-Johnson said at the time: “We’re looking forward to welcoming Van Mildert, a highly respected tenant referencing company, to the Rightmove family. 

“We believe the combination of Rightmove’s unrivalled reach and Van Mildert’s products and operational experience will augment the Rightmove Tenant Passport, helping in our quest to make renting a property faster, easier and more efficient for tenants, landlords, and agents alike.”

The purchase is a significant step in moving Rightmove towards becoming more than just a property portal – as well as developing its presence in what is, right now, the more buoyant lettings part of the property market.

Source Rightmove plc
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