Pink Home Loans is absorbing all Direct Life & Pension Services’ appointed representatives in a deal it says will push it into the top five mortgage networks.
Both firms will continue to trade as separate entities and Pink will service the mortgage business while DLPS will handle the protection side.
The combined network will trade as Pink Home Loans Network and Pink Home Loans managing director Tony Jones expects the new group will have about 160 AR firms, with those in the pipeline taking it to 200 over the next couple of months.
Pink Home Loans managing director Tony Jones says: “We will take on all the business currently held by DLPS and will therefore also take on its risk. The merger of the networks will bring significant advantages to members of both Pink and Direct Life.
The combination of Pinks experience in the mortgage market and Direct Lifes Insurance expertise will mean that we have an even stronger proposition to offer to existing and prospective ARs.”