Countrywide has acquired Mortgage Intelligence in a deal that has raised its total market share of the mortgage market to over six per cent and its share of the intermediary market to over 11 per cent.
Countrywide is refusing to disclose how much it paid for the firm.
Mortgage Intelligence managing director Sally Laker will continue in her role and will report to Countrywide financial services director Nigel Stockton (pictured). She will also join Countrywide’s senior management team.
The Mortgage Intelligence brand will be retained and will operate independently of Countrywide.
Last week, Mortgage Intelligence and Mortgage Next, which merged in 2009, formed a new mortgage club, called Next Intelligence.
Countrywide financial services director Nigel Stockton says: “We feel this acquisition will significantly enhance our position as the UK’s largest mortgage broker and will add another dimension to our strong financial services offering.
“Countrywide’s long-term strategy is to improve the scope and scale of its financial services offering to give all our agents, consultants and new IFA clients the best selling tools in the market.”
Laker says: “Countrywide’s investment will provide us with an exciting platform to develop the business and take it from strength to strength.”