Y3S acquires 50% stake in broker Pink Pig Loans

by: Carmen Reichman
  • 16/12/2016
  • 0
Y3S acquires 50% stake in broker Pink Pig Loans
Second charge master broker Y3S has acquired a 50% stake in specialist broker Pink Pig Loans (PPL).

The deal was the result of an ongoing collaboration between the firms and will see Y3S provide a range of support to the brokerage to “facilitate fast growth”.

PPL currently offers second charge mortgages and bridging finance solutions to mortgage brokers and IFAs.

Cardiff-based Y3S has made a number of acquisitions in the past five years in a bid to increase its marketshare.

The group now consist of Y3S Loans, Y3S Bridging & Commercial, Y3S Private Clients, Chaseblue Loans, B2B Financial and Pink Pig Loans, which together expect to generate £140m of second charge mortgages and £85m of bridging loans in 2017.

Y3S group CEO Barney Drake (pictured) said: “We’re very pleased to announce this latest deal with PPL. MD James Rainbird is a good friend and we have worked in collaboration for many years, so this feels really natural for all of us. He has steered his business successfully through the recession and beyond and it’s now poised for the next stage of growth, which is where Y3S can add real value.”

Rainbird added: “Joining one of the most exciting specialist mortgage brokerages in the UK is an uplifting experience for the whole team at PPL. The support offered by Y3S has proven to be an excellent growth formula for its existing investments and I am very much looking forward to developing our business together.”

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