The new company will be run by Rob Everett, founding director of Mortgage Options. As part of the agreement, Andrews has made an investment in Mortgage Options which it says further establishes both companies as solid, secure and well capitalised.
The company will become an appointed representative of Legal & General Network – the two companies combined will form the eighth largest mortgage and protection AR intermediary firm within the Legal & General network.
The new Mortgage Options (Partnership Division) will offer mortgage and protection advice to clients, both directly and through estate agencies.
Rob Everett, managing director of Mortgage Options, says: “Mortgage Options’ partnership with Andrews will strengthen both companies; it will enable Andrews to increase its penetration of the financial services advice market, while Mortgage Options will have a new proposition for both advisers and clients and it will increase the number of estate agencies through which they operate.
“The move to Legal & General makes perfect sense for Mortgage Options and its advisers.
“Andrews’ financial services arm has been an appointed representative of L&G for six years and it makes sense for our new company to do the same to take advantage of the enhanced facilities that Legal & General offers.”
Chris Chapman, financial services director of Andrews, says: “This aggregation of business with Mortgage Options will ensure the stability and growth of both firms, in what is currently a difficult financial market.
“Mortgage Options advisors will now have access to exclusive mortgage products through the Legal & General network, with greater support and Andrews will benefit from greatly increasing its share of the financial services market.”