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Mortgageforce management completes buyout from West Brom BS

The management at Mortgageforce has completed the purchase of the brokerage from West Brom Building Society.

In May the building society revealed it had agreed to sell the business to the management team for an undisclosed amount, while retaining an interest in the brokerage.

A Mortgageforce statement confirmed the deal had completed today.

For the 2009/10 financial year the brokerage reported a pre-tax loss of £321,272 for the year ending March 31, 2010, after registering a pre-tax profit of £12,125 the year before.

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