London-based brokerage Mortgage Warehouse Corporation has bought fellow brokerage The More Group by mutual agreement.
The deal means the combined group will now operate with more than 20 brokers nationwide who can provide face-to-face advice.
Currently the business advises on mortgages and associated products such as protection, but may branch out into areas such as secured lending in the future.
Mark Perry, a director of Mortgage Warehouse Corporation, says: “We are delighted to have acquired TMG which has been highly influential within the mortgage marketplace for the past six years.
“The ethics of TMG are identical to ours. When the market does pick up we believe customers will want to be provided with quality advice and service and we will be perfectly placed to offer this and to rise to new challenges the market will offer. We will also continue to grow our sales force with high quality, ethical consultants.”
MWCL and TMG are aiming to grow their combined sales force to a total of 30, and are actively recruiting another 10 brokers to join the company.
Steve Northcott, national sales director for TMG, says: “Our national team of mortgage consultants, who will be supported by MWCL’s administration and packaging team, complements MWCL’s London presence and the new group will enable us to continue to bring face-to-face service and advice throughout the UK.”