Mortgage Intelligence Holdings has acquired Life and Easy, trading as FYB Network.
FYB joins the Mortgage Intelligence and Mortgage Next brands under the umbrella of Mortgage Intelligence Holdings.
Mortgage Intelligence Holdings’ growth strategy involves acquisition, following its own acquisition by Countrywide in 2011.
The FYB partnership also increases Mortgage Intelligence’s mortgage and insurance proposition with over 50 advisers moving across from FYB to join the network.
“I am delighted to welcome FYB to our network,” said Sally Laker, managing director of Mortgage Intelligence Holdings. “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 at Countywide, said: “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.”