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West Brom buys Mortgageforce and plans to double its advisers

West Bromwich Building Society has bought mortgage intermediary franchise company Mortgageforce.

The firm becomes the fourth subsidiary of West Brom, which is the UK’s ninth-biggest building society.

Mortgageforce will remain independent and the board and the brand will be maintained.

The aim is for Mortgageforce to double its advisers within the next two years from its current total of around 100 advisers.

West Brom approached Mortgageforce last year with its acquisition proposals. West Brom was on its lender panel at the time. Mortgageforce has about 35 lenders on its panel.

West Brom group development director Roger Smith says: “This is great news for franchisees, staff at both Mortgageforce and West Brom and, most important, our customers. The ability to meet customer needs and reach new markets through UK-wide specialist one-to-one advice is reflected in the rapid growth of this pioneering operation. West Brom has a long, proud and well established reputation in supporting and developing businesses to reach their full potential.”

Mortgageforce chief executive Rob Clifford says: “To achieve further growth, we need to be part of a much bigger operation. West Brom’s position as a top 10 performing building society was an obvious choice, given their reputation in building and expanding subsidiary businesses.

“We are now in an excellent position to accelerate our performance in this new and exciting phase of our development.”

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