Mortgage broker in £21m swoop for Scottish counterpart
Derby-based Mortgage Advice Bureau (MAB) is set to buy Scottish counterpart First Mortgage Direct Limited in a deal that could be worth up to £20.6m.
First Mortgage has one trading subsidiary, Property Law Centre, which is wholly owned. In the nine months ended 31 December 20182, First Mortgage achieved revenue of £10.2m and profit before tax of £1.5m.
The Scottish based business employs 90 mortgage and protection advisers and has been expanding south of the border.
The initial deal will see MAB buy 80% of First Mortgage s... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...