The Mortgage Advice Bureau (MAB) New Homes Network has completed the transfer of Sherwins from SPF Private Clients.
Sherwins specialises in mortgages for affordable housing schemes and works with housing associations predominantly based in London and the South of England.
The arrangement will see all six advisers and support staff, including director Richard Stone, move over to the MAB New Homes Network.
“Sherwins will play a really important role in the growth of the MAB New Homes Network,” said Andy Frankish, director, new homes at MAB.
“It will help the affordable property proposition expand nationally and brings significant benefits to the Network. We will be able to capitalise on its expertise, and it will be a new source of business and ties in to our mainstream new homes business.
“Richard and the team are probably the best known specialist firm in London and Richard is a leading industry figure in his own right.
“The transfer fits very well with our strategy; most new developments have an element of affordable housing, and this will strengthen our new homes offering.
“Going forward we will build even stronger relationships with housing associations and hopefully this commitment will encourage more lenders to become involved in this sector.”
Alex King, executive director of SPF Private Clients, added: “Sherwins is a fine business and we have enjoyed working with them since 2004. However, we no longer see this specialist area as core to our offering and it makes perfect sense to have found them a home where they can undoubtedly prosper.”
