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Mortgagematch in deal with Mortgageforce

Broker network and packager Mortgagematch Homeloans has signed a deal to trade under the Mortgageforce umbrella.

As part of the deal, the 15-broker network Mortgagematch will remain as a directly authorised entity and will not be rebranded but its regulated activities and product sales will be executed under the Mortgageforce umbrella.

Mortgagematch directors Ian McPherson and Amo Ruprai will stay at the firm, working closely with Mortgageforce managing director Kevin Duffy.

Its packaging operation will remain open but will be scaled down with a view to relaunching it at a later stage when market conditions improve. The deal brings the total number of Mortgageforce advisers to 120.

Duffy says: “The Mortgagematch team comprises a powerful arsenal of proven talents. These are streetwise practitioners who, once the market resuscitates, will punch well above industry transactional averages. This will not be the
last deal of this kind that we structure this year.”

McPherson says: “Mortgageforce is a dynamic and growing business and is clearly part of a revitalised and well capitalised parent organisation. We are very confident that we can grow the business further with Mortgageforce’s support.”


Cazenove multi-manager view: Too far, too fast?

Equity markets have been on a power surge since their March lows. The S&P 500 has now rebounded a full 50% over the last five months. Only in 1930 did we witness a stock market rally of this magnitude over such a short time frame. Then, like now, the market was propelled higher by super-charged policy stimulus and tentative signs of economic improvement. Unfortunately, in the absence of an upturn in final demand, the market soon ran out of steam and eventually bottomed more than 80% lower in 1932! Should we be concerned? Probably.


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