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TFC merges with Solent Mortgage Services

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Packager TFC Homeloans has merged with specialist distributor Solent Mortgage Services.

SMS was previously owned by Hoyl Group, which will keep a stake in the merged firms.

SMS managing director Ian Balfour will become director of sales and marketing across both SMS and TFC.

He will report to TFC managing director Nigel Payne.

Payne said: “Solent Mortgage Services is a hugely respected packaging business and fits perfectly into TFC’s long-term growth strategy.

“Ian is also one of the most experienced and skilled professionals in the specialist lending sector. We can’t wait to have him working alongside us to build the UK’s most trusted mortgage packager.”

Balfour added: “We have distinct but complementary skills, expertise, and distribution networks.”

Hoyl Group managing director Mick Ramage says: “We will retain an interest in the overall group and are excited about its future plans.”

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