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Ex-Bankhall duo set up Alliance with threesixty

Former Bankhall pair Mike Buckley and Gordon Covell’s new mortgage support ser-vices company Active Lending Solutions has signed an alliance with Bankhall rival three-sixty, with the aim of taking on Bankhall’s Premier Mortgage Service.

Active will provide three-sixty’s members with access to its mortgage club, lending and packaging while the IFA support services firm will provide ALS members with compliance consultancy.

The business is also reorganising, with The Active Management Group becoming parent company of Active Lending Solutions.

Active Lending Services is the amalgamation of mortgage club Network Mortgage Limited, bought on January 4, Active Partnerships, which includes a packaging arm, and the firm’s overseas and commercial business. It will also provide loans funded by Scottish Widows.

AMG chief executive Buckley says the tie-up brings ALS’s membership up to 2,250 advisers and further deals are expected.

Buckley and Covell left Bankhall last year and bought mortgage specialist Bankhall Client Services and packaging subsidiary Independent Mortgages Direct, which are now part of ALS.

The pair were under embargo not to do anything that would conflict with their former employer but the embargo ended in June.

Buckley says: “We have a lot more initiatives that we are working on and there will be more growth. Because our proposition is rounded with lending, packaging and a mortgage club, we believe we are attractive to brokers.

“John Malone at PMS has built a very successful business and he has done it by playing the numbers game. Our strategy is not to build it in the same way but we want to build it to be more substantial and that is about providing quality of service.”

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