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Mortgage Intelligence acquires FYB Network

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  • 11/09/2012
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Mortgage Intelligence acquires FYB Network
Mortgage Intelligence has 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.

Mortgage Intelligence said the addition of FYB is a continuation of its growth strategy, following its own acquisition by Countrywide in 2011.

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

Sally Laker, managing director of Mortgage Intelligence Holdings said: “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 commented: “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.”

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