Listed mortgage adviser network the Mortgage Advice Bureau has bought a 23% stake in online conveyancing firm Sort to enhance its distribution channels.
The investment gives the bureau partial ownership of the Sort Refer brand - an online portal referring conveyancing instructions from mortgage advisers to law firms and conveyancing firms. Conveyancing services are closely linked with mortgage sales, as every mortgage requires conveyancing, including a remortgage. This is the first investment made by the group since listing on AIM in November 2014. The business said it is in line with its strategy of making targeted investments to enhance its distribution capabilities. Mortgage Advice Bureau CEO Peter Brodnicki said: "The combin...
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