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Mortgage Brain ponders further acquisitions after buying Encore

Mortgage Brain says it is considering making further acquisitions after snapping up Mortgage 2000’s Encore sourcing system last week.

Mark Lofthouse, chief operating officer of Mortgage Brain, refused to be drawn on the type of businesses the firm is looking to acquire or whether it had its sights set on other sourcing systems.

But he tells Mortgage Strategy: “We are considering making further acquisitions and also looking to get more users migrating to Mortgage Brain.”

Mortgage Brain’s main rival has historically been Trigold and it has long been rumoured that the two firms could get together.

But David Aylmer, marketing and business development director at Trigold, says a takeover by Mortgage Brain is not on the cards.

He says: “Being bought by Mortgage Brain is not an option for us as we have a 70% share of the market. We are not on the acquisition trail ourselves but we are in a good position and busier than ever.

“We are planning to put direct-only products on our sourcing system soon and are working on a number of other broker initiatives.”

Last week Moneysupermarket. com revealed that it was transferring the Encore sourcing system to rival Mortgage Brain.

The company also sold its mortgage club to Exclusive Connections, but no details on the terms of the deal have been released.

The news came shortly after the group reported that it made a £51m loss be-fore tax last year. In the second half of 2007 the group made a profit of £9.4m.

In its intermediary business, profits fell 41% from £10.6m in 2007 to £6.3m in 2008.


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