Acquisition of First Mortgage Direct Limited by Mortgage Advice Bureau Limited

Mortgage Advice Bureau (“MAB”) is a leading mortgage intermediary brand with over 1,250 advisers across the UK. MAB offers expert mortgage advice on a local, regional and national level, both face to face and over the phone. The transaction increases MAB’s adviser numbers and market share and facilitates growth in First Mortgage Direct through introducing MAB technology.

First Mortgage Direct, founded in 1997, employs over 90 mortgage and protection staff who advise customers through one of its 14 mortgage shops and over the phone. Whilst mainly based in Scotland the business has expanded into Manchester and North East of England.