Bankhall has just confirmed it is buying Norwich Union's Mortgage Club, giving the intermediary services firm a potential membership of 43,000 brokers.
Although the price behind the deal has not been disclosed, the sale is expected to be completed by the end of next month, according to a statement from Bankhall, which should see the firm control combined lending worth £38bn. NUMC is currently the fourth largest mortgage broker club in the UK, distributing mortgages through over 7,000 mortgage advisers and cover 35 lenders. The new deal gives Bankhall around 43,000 members thanks to other previous deals with Premier Mortgage Service – originally owned by Prudential – and an alliance with PaymentShield. IFAonline
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