The West Bromwich acquires franchised mortgage intermediary company Mortgage Force.
It is part of its new venture and diversification within the West Brom Group.
Mortgage Force will remain independent while extending the society’s operation into new national markets.
West Brom group development director Roger Smith says: “This is great news for Franchisees, staff at both Mortgage Force and the West Brom and, most importantly, for our customers. The ability to meet customers needs and reach new markets through UK-wide specialist one-to-one advice is reflected in the rapid growth of this pioneering operation. The West Brom has a long, proud and well-established reputation in supporting and developing businesses to reach their full potential.”
Mortgage Force chief executive Rob Clifford says: “We have experienced enormous success, evidenced by our growth, awards and reputation for innovation over the last five years. As a private company, liquidity and access to capital are constraints to a fiercely ambitious company, such as Mortgage Force. To achieve further
rapid growth, we need to be part of a much larger operation. The West Brom, as a top ten 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.”