First Complete acquires The Mortgage Alliance

6 July 2011 | By Natalie Thomas

First Complete plans to retain TMA’s brand and expand its proposition to mortgage and insurance advisers who are directly authorised. The mortgage club has been up and running since 1999 and currently supports over 3,500 directly authorised brokers.

Today’s announcement to buy TMA is the latest in a series of high profile acquisitions made by LSL over the last year and a half.

At the beginning of 2010 in January it bought Halifax Estate Agencies from Lloyds Banking Group. Then in May 2010 it bought mortgage network Home of Choice, now rebranded to First Complete, for £400,000 and also bought Pink Home Loans in November 2010 for £1.6m

Jon Round, chief executive of First Complete, says: “The Mortgage Alliance is a mortgage club with a good reputation which has an exceptional offering to directly authorised advisers.

“First Complete has gone from strength to strength in the last year, providing an excellent service to its appointed representatives; now First Complete will also be able to provide a high quality proposition to directly authorised firms.”

A spokesperson for Santander says: “Santander is committed to becoming the best commercial bank in the UK. Following a strategic review and in line with our focus on core business areas, we can confirm that we have taken the decision to sell The Mortgage Alliance to the LSL Group.”

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