Countrywide exercised a put and call option in the contract to buy MAB’s share.
Countrywide has purchased the Mortgage Advice Bureau’s 49% share in high end mortgage advice firm Capital Private Finance for £2.7m.
MAB launched the 5-year venture with Countrywide in 2011, with the latter holding a 51% share.
Countrywide exercised a put and call option in the contract to buy MAB’s share.
Peter Curran, managing director of financial services at Countrywide. said: “Following a successful joint venture over a number of years, we have now reached a natural point in the cycle to bring Capital Private Finance fully into the Countrywide Group.
“This decision is in line with our strategy and focus on growth opportunities in London.”
Peter Brodnicki said: “The handover period starts now and will complete at the end of July.
“It was always going to be a 5-year venture after Countrywide acquired high net worth brands. Countrywide is a mainstream brand and we had a good relationship with them; we were ideal partners because of our experience in the estate agency sector.
“The Countrywide operation was effectively an AR of MAB."
The Mortgage Advice Bureau announced its annual figures this morning.
The firm upped its gross profit by 34% to £18.3m in 2015 with the help of £56.6m revenue.
Brodnicki added: "Our share of UK new mortgage lending grew by 18% to 3.6% in 2015. We are confident that our strategy is on track to continue to deliver strong revenue growth and attractive returns to investors."
