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Mortgage 1st acquires Peak Mortgages

  • 05/06/2023
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Mortgage 1st acquires Peak Mortgages
Broker firm Mortgage 1st has acquired fellow Derbyshire-based firm Peak Mortgages and Protection as part of its growth strategy.

Peak was launched by Rhys Schofield in 2018 and is the first company acquired by Mortgage 1st. This will see its adviser headcount increase by almost a third. 

Peak will keep its company name and trade as Mortgage 1st. Schofield will continue to be the face of the company and lead its advisers. 

Mortgage 1st was established in 2008 by Jon Stones, who was the sole adviser at the time. The firm expanded after five years and is now run by Stones and his wife Lisa, who is operations director. The firm is an appointed representative of Stonebridge which it said was “fundamental” in supporting the latest acquisition. 


‘Maintaining the culture’

Stones said: “The opportunity to bring Peak into Mortgage 1st is a unique and ideal scenario, one that will see us continue to grow but also maintain the exceptional culture that we have built at Mortgage 1st.   

“Rhys has done a wonderful job with Peak, quickly establishing their standing as the go-to brokerage in Belper before expanding that proposition across Derbyshire. During preliminary discussions it became very apparent that we shared the same core values as business owners which played a key role in getting this deal done so quickly.” 

Schofield said he was “extremely proud and privileged to be a part of Mortgage 1st. 

He added: “Working alongside like-minded people, who share the same drive and dedication was an absolute must for me, knowing that my team could fulfil their own ambitions and be supported along the way was huge from a personal perspective.   

“Jon and Lisa have built a wonderful brand, visiting their head office and speaking with the wider team was pretty inspiring, having witnessed their recent growth trajectory and knowing what is planned for the next couple of years, I knew this was the perfect home for Peak.” 

Lisa Stones said: “After months in the planning we are delighted to get this over the line. This deal wouldn’t have been possible without the help and support of Stonebridge and we look forward to continuing the working relationship with them for many years to come.  

“I’m excited to welcome everyone from Peak into our team and can’t wait to see how both brands continue to grow alongside one another.” 

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