Egg the on-line branch of Prudential has purchased a 37 per cent stake in IF On-line, the mortgage trading platform.
The deal worth £15m according to Egg sources, will give the bank its first presence in the mortgage business.
IF On-line came out of the former CML electronic trading project.
Egg head of media relations Pema Radhi says: “Yes, we are. In fact as we speak the press release is going out. It's a very exciting move because it's our first move into the mortgage business. We think IF Online is the right partner for us. They will give us access to a wide range of mortgage products.”