The Mortgage Advice Bureau (MAB) has finalised the acquisition of former home loan rival Mortgage Talk.
As a result, the number of advisors belonging to the group is to be boosted significantly.
MAB currently has 350 such professionals on its books, but this number will now climb to 500, while applications for mortgages with the firm are expected to stand at more than £4.5 billion by the time 2012 draws to a close.
Peter Brodnicki, chief executive of the company – an independent mortgage and protection broker – is to carry on as the overseer of the business while also retaining a majority stake.
Chairman owner of Mortgage Talk Peter Birch will take a seat on the board as the firm’s second-biggest shareholder.
Mr Birch said: “I am really excited about the opportunities that the bringing together of two of the largest and best known mortgage intermediaries in the UK creates.”
The industry figure said the acquisition represents a “terrific cultural fit” between the two entities, which will bring together strong senior management teams – a move that is likely to be of benefit to all of MAB’s existing advisers and partners.
