Mortgage Intelligence Holdings expands its business with the acquisition of FYB Network


Tuesday, September 11, 2012

Mortgage Intelligence Holdings has today announced the acquisition of 'Life and Easy' trading as FYB Network. FYB joins the Mortgage Intelligence and Mortgage Next brands under the umbrella of Mortgage Intelligence Holdings Ltd.

The addition of FYB is a continuation of Mortgage Intelligence Holdings' growth strategy, following its own acquisition by Countrywide in 2011 and forms part of the group's long term plans to develop their network presence by acquiring quality businesses and large Appointed Representatives.

The FYB partnership also significantly increases Mortgage Intelligence's mortgage and insurance proposition with over 50 advisers moving across from FYB to join Sally Laker's broker led business.

Announcing the news, Sally Laker, Managing Director of Mortgage Intelligence Holdings said: "I am delighted to welcome FYB to our network. It is a great fit with our company and provides fantastic potential to grow both businesses. FYB have a strong protection and insurance offering which will complement the well-established mortgage background of both Mortgage Intelligence and Mortgage Next.  It also enables all brands under Mortgage Intelligence Holdings to benefit from significant economies of scale and add to our already strong profitability.

"In particular the values and behaviours are a great overlap in our two companies and I am looking forward to working with the great team of advisers that are part of FYB, focussing on delivering a quality service and significantly contributing to growing our business in a climate that is very challenging."

Nigel Stockton, Financial Services Director, Countywide added: "This is another great acquisition for Countrywide which not only increases our overall lending volumes, but also adds significant growth on the protection side to the network proposition. With three strong brands under Mortgage Intelligence, it offers opportunities to diversify the propositions and is a significant part of our continued growth strategy."

Founder of FYB, Mal Rostron comments: "This is a tremendous opportunity to grow the current network and work in partnership with Mortgage Intelligence. With the backing of such a well-respected brand as Countrywide and the synergy that exists between Mortgage Intelligence and FYB, this is a positive step for all parties. We look forward to capitalising on our strengths and increased scale to build both businesses going forward."


About Mortgage Intelligence Holdings: Mortgage Intelligence Holdings was acquired by Countrywide in April 2011, the UK's largest mortgage broker and property services Group.  The following brands operate under Mortgage Intelligence Holdings.  

Mortgage Intelligence and Mortgage Next: Established in 1996, Mortgage Intelligence, which merged with Mortgage Next in 2009, has become one of the UK's leading mortgage networks. They offer award winning mortgage and insurance services to over 400 appointed representatives. Both networks focus on high quality of service and support offered to their intermediaries.

FYB Network: Mortgage Intelligence Holdings acquired Life and Easy trading as FYB Network in July 2012.  FYB's brand will join the Mortgage Intelligence and Mortgage Next brands under the umbrella of Mortgage Intelligence Holdings Ltd. They have over 50 advisers and offer both mortgages and insurance services. They were originally founded in 2004 and became  a fully authorised network in May 2007.

Next Intelligence: Next Intelligence launched in April 2011 and brought together Mortgage Intelligence and Mortgage Next's directly authorised clubs.  They offer premium brokers services to over 5000 mortgage intermediaries including mortgages, general insurance and a new protection panel which was launched in September 2011.   

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