Towergate acquired John Charcol from administrators

Ian Darby, CEO of Towergate Financial, has revealed that the company acquired mortgage brokerage John Charcol through the administrators Grant Thornton last night.

Speaking on a conference call this afternoon, Darby confirmed that money has changed hands on the deal but could not confirm how much Towergate had paid for the brokerage.

He says that the opportunity for Towergate to buy John Charcol first arose eight days ago.

John Charcol’s staff, assets, brand, customers and services were acquired by Towergate overnight last night.

But Darby did not confirm whether all of the brokerage’s liabilities were part of the deal.

Mortgage Strategy revealed earlier today that Towergate Financial, the financial advisory business of the Towergate Partnership, had acquired John Charcol.

Under the terms of the deal, all John Charcol staff and directors will be making the move to Towergate Financial.

Darby says it will also be reviewing John Charcol’s single-tie protection arrangement with Legal & General.

It emerged this week that a separate company, John Charcol 2010, has been listed on Companies House.

The firm was incorporated on February 2 and its certificate of incorporation lists Tracy Lee Plimmer as company director.