News: Mortgage Talk acquired by Mortgage Advice Bureau

Rotherham-based mortgage brokers, Mortgage Talk has been acquired by Mortgage Advice Bureau (MAB) creating a combined group with over 500 advisers dealing with £4.5bn in mortgage applications.

Peter Birch, chairman of Mortgage Talk will join the MAB board as the second largest shareholder while Peter Brodnicki, chief executive of MAB, will continue to run the company.

The deal, made in exchange for shares in MAB Group, was driven by Mortgage Talk's brand and reputation in the new build sector and MAB is hoping for significant expansion in this area.

Peter Birch made the decision to start up Mortgage Talk during his career as a valuer in 1994 in Rotherham when he noticed the lack of genuine advice for home buyers.

The Wickersley company grew through partnerships with local estate agents and went on to develop franchise propositions within major estate agents. They became one of the largest independent mortgage brokers in the UK.

Peter Birch, chairman of Mortgage Talks, said: "On a personal level I am looking forward to working alongside the MAB directors whom I have known and respected for many years.

"By combining two exceptionally strong senior management teams under MAB's market leading DA (directly authorised) proposition, I am sure it will hugely benefit our existing partners and advisers.

"It will give us real scope to launch a new and truly innovative offering to builders and specialist new build mortgage brokers throughout the UK."

Peter Brodnicki, chief executive of Mortgage Advice Bureau, added: "This is great news for both companies, as it will allow us to create a truly formidable force in the mortgage industry.

"I am really looking forward to working with the Mortgage Talk directors and management as we look to diversify and expand the MAB group, while retaining the focus on maintaining quality and increasing efficiency.

"The advisers and businesses that work with us are the key to our success, and the strengthening the MAB group can only be good news for them in terms of the support and solutions we can offer."

Mortgage Advice Bureau website
Mortgage Talk website

Images: mortgagetalk.co.uk