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Intelligence to be merged with Next network

European Financial Solutions has bought Mortgage Intelligence and plans to merge the firm with its existing network, Mortgage Next.

Following its purchase of Mortgage Intelligence from Close Brothers, EFS says both network brands will continue under the Mortgage Intelligence Holdings umbrella.

Mortgage Intelligence managing director Sally Laker will head the combined business. The head office will be based in Bournemouth and the combined business will have around 500 appointed representatives and 12,000 directly authorised brokers.

European Financial Solutions chief executive Tony Machin comments: “The bringing together of these companies will deliver significant benefits for current members and enable both brands to offer an even more attractive proposition to new members.”

Laker says: “I am delighted with this deal and am looking forward to working with a strong team to create the UK’s leading mortgage network.”

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