Mortgage & Surveying Services acquires stake in Connect

Real estate group Mortgage & Surveying Services has announced that it has purchased “a significant stake” in specialist mortgage network Connect IFA for an undisclosed amount.

Connect says the investment will strengthen its “financial strength and give it the ability to make further developments to its proposition as it continues to grow its presence in the UK”.

MSS Group – with businesses in surveying, appraisals, mortgage services and advisor technology – is also the parent company of the Stonebridge Mortgage Network.

Connect, founded in 1998, says it has more than 250 appointed representative councilors within its network and plans to increase that number “significantly over time”.

MSS Group, through Stonebridge and Connect, says it will support more than 1,450 mortgage advisers.

The Mortgage Network says the investment will see the companies ‘working closely together to deliver greater scale and influence in the lending, insurance and surveying sectors’.

Connect CEO Liz Syms, Director of Sales Kevin Thomson and Director, Mortgages Jane Benjamin remains in place as the company’s management team. Representatives of MSS Group will join its board of directors as non-executives.

Connect’s Syms said: “This marks the next step in Connect’s evolution and will strengthen our position as a major player in the specialist mortgage network market. The operations of both groups overlap without competing and by working together we will be able to achieve additional benefits and operational efficiencies. »

MSS Group Commercial Director Rob Clifford added: “Liz Syms and her team have done an extremely impressive job building a fantastic business at Connect and a business we’ve admired for a few years – we really look forward to working with them to help support their growth plans.

MSS already has extensive relationships with mortgage lenders as a survey and appraisal partner and we intend to expand the reach of the group in terms of mortgage aggregation and deeper relationship building. with these lenders.

The deal is subject to approval by the Financial Conduct Authority.

Previous The bridging goes from strength to strength
Next Lender Ratings: The Best in Buy-to-Lease