Mortgage Force will remain independent while extending the Society’s operation into new national markets.
Commenting on the transaction, Chief Executive of Mortgage Force, Robert Clifford, said: "We have experienced enormous success, evidenced by our growth, awards and reputation for innovation over the last five years. As a private company, liquidity and access to capital are constraints to a fiercely ambitious company, such as Mortgage Force. To achieve further rapid growth, we need to be part of a much larger operation. The West Brom, as a top ten performing building society, was an obvious choice given their reputation in building and expanding subsidiary businesses. We were impressed by their management insight and support for the franchise strategy Mortgage Force has followed with significant success. We are now in an excellent position to accelerate our performance in this new and exciting phase of our development."
Speaking for the West Brom, Group Development Director, Roger Smith, added: "This is great news for Franchisees, staff at both Mortgage Force and the West Brom and, most importantly, for our customers. The ability to meet customers needs and reach new markets through UK-wide specialist one-to-one advice is reflected in the rapid growth of this pioneering operation. The West Brom has a long, proud and well-established reputation in supporting and developing businesses to reach their full potential."
He continued: "The winning formula created by Mortgage Force will provide a further dimension within our vibrant Group operation and I look forward to supporting Robert Clifford in taking Mortgage Force to even greater heights of achievement in the future."
