Towergate acquired John Charcol from administrators

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Towergate Financial today revealed mortgage brokerage John Charcol went into administration before it acquired the company.

Towergate CEO Ian Darby says John Charcol went into administration last night but did not disclose the amount paid for the company. On a conference call this afternoon, Darby,who previously spent more than 15 years at John Charcol after joining the brokerage in 1984, also revealed the opportunity to buy John Charcol first arose eight days ago. Darby said John Charcol's staff, assets, brand, customers and services were acquired by Towergate overnight. Under the terms of the deal, all John Charcol staff and directors will be making the move to Towergate Financial. Over the last...

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