PMN will come under the Berkeley Mortgages umbrella and it will trade as 'PMN part of BIA'.
Combining BBB's experience in regulation with PMN's offering, the partnership is planning to increase membership to over 300 firms in the next two years.
BBB said the partnership 'is the next logical step' within its long-term strategy post-'Mortgage Day'. The first phase began in February when Dale Knight, then director of PMN, became director of mortgages at BBB. Since joining the group Knight has redesigned the BIA mortgage offering with the revamped Berkeley Mortgage Club launched to members on 1 April. This now covers a panel of 52 lenders representing the mortgage market and forms the basis for future development within the group.
Knight said: "Berkeley members now have access to a mortgage proposition which accurately reflects BBB's standing within the market. We have established the foundations for growth and our attention will now be placed on developing mortgages throughout the group as a whole. A lot of networks will be scared about what we're planning."
Cliff Lockyer, chief executive of BBB, added: "Many new pure mortgage networks have not been successful, using models which simply do not appeal to the mortgage broker. We believe the PMN model is well-suited to this sector and look forward to a fruitful and successful partnership."
