Mortgage Introducer has been told by one source that they had been to see the firm’s network operation as a potential buyer but they had not followed up the enquiry.
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Despite a denial by the mortgage network, the source stressed that the Mortgage Times Group was looking to sell its mortgage network arm and concentrate on its packaging business, with a number of other interested parties having been sounded out as potential buyers.
However, the claim was strongly denied by Payam Azadi, head of marketing at the Mortgage Times Group, who claimed that each section of the business held equal importance for the Group going forward.
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Azadi said: “There is no way that we would sell our mortgage network proposition. We have grown our appointed representative (AR) base considerably and now have over 400 intermediary firms, with 100 more in the pipeline.
“Our AR mortgage network is an important part of the group, as is our packaging operation and the mortgage club, which all come under the Mortgage Times banner. Our AR network is a very profitable business and we are the fastest growing network out there so we would be mad to sell it now.”
