Mortgage Brain buys MortgageStream

The buy up, which will complete in the next few months, means MortgageStream's customers will be able to access mortgage sourcing, e-trading, website provision and other business partnership services.

MortgageStream has over 1,000 mortgage and GI broker users and is a desktop based CRM and case management system.

The deal means 13.4% of authorised UK mortgage firms will be using either the Key, Mortgage Brain's flagship point-of-sale, CRM and compliance system or MortgageStream, said Mortgage Brain.

Mark Lofthouse, CEO of Mortgage Brain, said: "The forthcoming acquisition of MortgageStream represents another step in our long-term business strategy."

One in eight mortgage firms that are authorised to sell mortgages will be using the Key or MortgageStream, added Lofthouse.

Paul Holden, sales director at MortgageStream, said: "We are delighted to have reached this agreement with Mortgage Brain.

"Our products and services complement each other and once the sale is completed, our customers will continue to benefit from the support and backing from the industry's leading provider of technology to mortgage brokers."

MBL Holdings, formed in 1986, is jointly owned by Barclays Woolwich, The Lloyds Banking Group, Nationwide, Northern Rock, Royal Bank of Scotland and Santander.