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Mortgage Advice Bureau buys HomeOwners Alliance in £1.4 million deal

ALN

Mortgage Advice Bureau Holdings PLC on Tuesday said it has acquired London-based property advice platform HomeOwners Alliance Ltd, as it looks to strengthen its engagement with customers earlier in the home buying process.

The Derby, England-based mortgage broker said the total consideration is £1.4 million, plus distributable reserves. It noted that 50% is payable on completion, with the balance payable over a two-year period.

Mortgage Advice Bureau said it acquired the full share capital in the business from its founders and Smoove Ltd.

The company explained that the acquisition enhances its positioning ahead of any potential changes that arise from the government’s ongoing home-selling and buying consultation.

Mortgage Advice Bureau added that via the integration and enhancement of HOA’s digital platform, it expects to increase lead volumes and extend the range of services available.

It also expects to strengthen connections between mortgage advice and complementary home-moving services.

Shares in the company were trading 1.7% higher at 585.00 pence on Tuesday morning in London.

‘HomeOwners Alliance has built a strong reputation as a trusted source of information for homeowners and prospective buyers,’ said Ben Thompson, director of Home Moving Strategy at Mortgage Advice Bureau.

‘This acquisition strengthens our ability to engage with customers earlier in their homebuying journey and supports our strategy to broaden MAB’s role across the wider home-moving process. We’re pleased to welcome HomeOwners Alliance to the Group and look forward to supporting its continued growth.’

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