Brokerage Mortgage 1st has bought Peak Mortgages & Protection, another Derbyshire-based company, for an undisclosed sum.
Mortgage 1st, founded in 2008 by Jon Stones, says the acquisition will increase its advisor headcount by more than 30%.
Managing Director Stones ran the firm as a sole adviser for its first five years, but later added brokers.
The business is also run by his wife, COO Lisa Stones, and is a dedicated representative of the Stonebridge Mortgage Solutions network.
Peak Mortgages was founded by Rhys Schofield in 2018, has over 2,000 customers across the country and specializes in areas such as first-time homebuyer offers, mortgages and family protection.
The business will continue to operate “as a style of trading” under Mortgage 1st, with Schofield “continuing in his role as the face of Peak and overseeing their advisors”.
Jon Stones of Mortgage 1st said: “Rhys has done an excellent job with Peak, quickly establishing their status as the go-to brokerage in Belper before expanding this proposition across Derbyshire.
“During preliminary discussions, it became very clear that we shared the same core values as business owners, which was key to getting this deal done so quickly.”
Peak Mortgages Founder Schofield adds, “Working alongside like-minded people who share the same drive and dedication was an absolute must for me, knowing that my team could achieve their own ambitions and be supported all the time. along the way was enormous from a personal point of view. Jon and Lisa have built a wonderful brand.
Lisa Stones of Mortgage 1st commented, “After months of planning, we are thrilled to put this in place. This agreement would not have been possible without the help and support of Stonebridge.