The lenders involved in the branded lending operation are to be announced shortly. The estate agents are all based in the North East.
Richard Hall, managing director of Best Advice Mortgage Centre, said: “We intend to continue expanding through the next year, and aim to be nationwide within the next two years.”
He went on to say the purchase of estate agents was part of a holistic approach, which would help generate leads for the intermediary arm of the organisation.
Best Advice is looking to recruit 300 appointed representatives (ARs) in the run-up to mortgage regulation in October. Hall said the number would be capped to ensure high service standards for members.
Commenting on the diversification into estate agency, Andy Pratt, managing director of Foxtons-owned Alexander Hall, said: “There has been a long tradition of ties between estate agents and mortgage brokers. Our success was due initially to our relationship with Foxtons”
