Mortgage Advice Bureau has acquired the brokerage Mortgage Talk in exchange for shares in the MAB group.
As a result of the deal, MT chairman Peter Birch will join the MAB board as the second largest shareholder. MAB chief executive Peter Brodnicki (pictured) will continue to run the company and will retain a majority stake in the MAB group.
The combined group will have over 500 advisers, with mortgage applications set to top £4.5bn this year.
Brodnicki says: “I am really looking forward to working with the Mortgage Talk directors and management as we look to diversify and expand the MAB group, while retaining the focus on maintaining quality and increasing efficiency.
“The advisers and businesses that work with us are the key to our success, and the strengthening the MAB group can only be good news for them in terms of the support and solutions we can offer.”
Birch says: “I am really excited about the opportunities that the bringing together of two of the largest and best known mortgage intermediaries in the UK creates for everyone associated with Mortgage Talk and MAB.”