The Beacon Group has confirmed the acquisition of a mortgage broker and its associated mortgage packager as part of the company's plans for ‘strategic growth'.
Broker MD Nationwide and packager Bananas Inc will become part of the Beacon Group, which already includes IFA firm Beacon Asset Management, Beacon Homeloans, a non-conforming mortgage lender and Beacon Mortgages, a specialist packager. The deal which was completed yesterday will give Beacon access to the ‘direct to consumer’ market through MD Nationwide, while Bananas Inc, an all of market packager and member of the Regulatory Alliance of Mortgage Packagers (RAMP) will continue to be “an aggregator and branded mortgage arranger for its existing panel lenders”. Beacon says MD Nationwide...
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