Mortgage Advice Bureau buys stake in online conveyancing hub
The Mortgage Advice Bureau (MAB) have bought a stake in online conveyancing hub Sort Refer.
The sale of a 23% stake in Sort Refer’s parent company Sort Ltd for £350,000 is being funded out of the independent mortgage broker’s existing cash resources.
Peter Brodnicki, CEO of Mortgage Advice Bureau, said: “The combination of legal and financial services, given they are so closely linked, represents an exciting opportunity for future growth.
“Sort is a very ambitious, fast growing business and is well positioned to support our strategic objectives in that area, including the integration of Sort’s software into MAB’s MIDAS platform.
“We are delighted to have made this investment in Sort which will build on MAB’s expertise and distribution capabilities, as well as enhance the consumer and adviser experience.”