Merrill Lynch has bought Freedom Lending, marking its latest push into the mortgage market.
Freedom will continue to operate as a specialist lender in the buy-to-let, let-to-buy and self-certification markets. The company will sit alongside Mortgages PLC and will announce a new trading name before the end of the year.
Freedom managing director Colin Snowdon says: This announcement is excellent news, as the backing of Merrill Lynch will enable us to accelerate the next phase of our development. I have been ambitious for this business from the word go and we now have the wherewithal to compete confidently with the major players in our sector.