You are here: Home - News -

Mortgage Advice Bureau invests £0.35m in Sort Refer

by: Mortgage Solutions
  • 11/12/2015
  • 0
Mortgage Advice Bureau invests £0.35m in Sort Refer
Mortgage Advice Bureau Holdings, one of the UK's leading consumer mortgage brands and networks for mortgage intermediaries, has made a £350,000 cash investment in conveyancing portal Sort Refer.

This is the firm’s first equity investment since its AIM listing in November 2014.

The group confirmed the move is in line with the group’s stated strategy of making targeted investments to enhance its distribution capabilities.

Sort Refer is primarily a conveyancer, but its legal panel management software sifts conveyancing instructions out from mortgage advisers and estate agents to law firms and conveyancers.

Peter Brodnicki, CEO of Mortgage Advice Bureau, said: “The combination of legal and financial services, given they are so closely linked, represents an exciting opportunity for future growth.  Sort is a very ambitious, fast growing business and is well positioned to support our strategic objectives in that area, including the integration of Sort’s software into MAB’s MIDAS platform.  We are delighted to have made this investment in Sort which will build on MAB’s expertise and distribution capabilities, as well as enhance the consumer and adviser experience.”

The group achieved a market cap of £80.8m on 14 November last year in a move that confirmed investor’s positive views of prospects for the mortgage advice market. On 14 November 2014, shares were set at 160p, which have risen to 332.50p this morning.

 

 

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Tortoise
Have you seen a slowdown in business in the run up to Christmas?

In the run-up to Christmas, the industry often experiences a seasonal lull, with consumers setting aside money for the festive...

Close