Evolve was founded in 2009 by Jason Blunden, who started his career at Lloyds TSB and then worked at Sterling & Law. The firm has a team of 35 advisers.
It is a specialist new-build broker with a national reach and is headquartered in Ipswich, Suffolk. Evolve also has plans to open a new office in Colchester, Essex this August.
The broker specialises in new-build mortgages, first-time buyers, help to buy, right to buy second-hand mortgages, remortgages, buy-to-let, equity release and lifetime mortgages, adverse lending, life protection and home insurances.
The acquisition of the stake follows MAB’s investment into new-build specialists Meridian, with the firm going on to acquire shared ownership broker Metro.
In April, MAB welcomed Mark Cook, who was Persimmon Homes’ former group sales and marketing director, as its non-executive director.
The new homes board consists of three non-executive directors: Andy Frankish who specialises in broking, Douglas Cochrane who focuses on lending and Mark Cook who brings expertise on developers.
There are also four internal board members, which include MAB’s chief executive Peter Brodnicki, distribution director Gareth Herbert, chief marketing officer Gemma Bacon and innovation director Matt Lowndes. New-build director Mobeen Akram is also a member of the team.
MAB’s chief executive, Peter Brodnicki, said: “Builders and new-build customers rightly have high expectations, and our aim is to deliver a best in class service to both by partnering with the best and most innovative new-build firms in this sector, and ensuring our in-house technology developments are tailored to the requirements of this specialist market and all its stakeholders.
“We have continued to add invaluable experience to the MAB New Homes Board, which now includes the highest calibre non-execs from the broking, lending and building sectors.”
Blunden added: “There is a strong fit between Evolve and MAB in terms of culture and shared ambitions, bringing together the best in technology, people, new-build vision and expertise. We are looking forward to the exciting next stage in Evolve’s development.”