TFC Homeloans has completed a merger deal with Solent Mortgage Services (SMS).
The merger marks a stage in both firms’ key strategies and has created a market leading organisation with one of the strongest distribution models in the UK.
Ian Belfour, managing director of SMS will become director of sales and marketing across both SMS and TFC, reporting to managing director Nigel Payne (pictured).
Nigel Payne said: “Solent Mortgage Services is a hugely respected packaging business and fits perfectly into TFC’s long-term growth strategy.
“Ian is also one of the most experienced and skilled professionals in the specialist lending sector. We can’t wait to have him working alongside us to build the UK’s most trusted mortgage packager.”
Ian Balfour added: “By cementing two of the country’s most experienced and well-respected distribution brands, we are building a market-leading business to grow in the ever-changing packager, distribution and specialist sector.
“SMS and TFC have had a close working relationship for 15 years and we share a bold strategy to create a strong, efficient packager that is trusted by clients, brokers and lenders.”
Mick Ramage, managing director of Hoyl Group, said: “We have owned SMS since 2008 and are pleased to announce that we have agreed this deal with TFC Homeloans.
“We will retain an interest in the overall group and are excited about its future plans.”