We are delighted to announce we have completed a merger deal with Solent Mortgage Services (SMS).
The merger marks a key stage in TFC and Solent Mortgage Services’ ambitious growth strategies and has created one market leading organisation with one of the strongest distribution models in the UK.
Managing director of SMS, Ian Balfour, will become director of sales and marketing across both SMS and TFC, reporting to managing director Nigel Payne.
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."
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, even down to sharing the same pioneering mortgage technology. We have distinct but complementary skills, expertise, and distribution networks.
"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 Solent Mortgage Services since 2008 and are pleased to announce that we have agreed this deal with TFC Homeloans - an organisation which is the perfect fit at the right time. We will retain an interest in the overall group and are excited about its future plans."
Packager TFC Homeloans has boosted its new business and processing teams, recruiting three talented individuals into its head office in Manchester.
The new hires bring the total number of staff at TFC to 30.
Paul Morrison is hired as a new case owner in the processing team, and is fully CeMAP qualified. He brings extensive experience to TFC from his role as a commercial mortgage adviser with Barclays Business.
Paul said: “Having worked for a mortgage provider I’m excited to now be able to support intermediaries with solutions from across the market. I can already see that TFC is an ambitious, positive place to work with a clear commitment to brokers and their clients.”
New completions officer in the processing team is Connor Naughton, who brings with him financial services experience from Think Money and Harrington Brooks. When he isn’t helping brokers and their clients he plays football for fan-owned football club, FC United of Manchester. Finally, Jordan Flint has joined TFC providing underwriting support to the new business team. This is his first financial services role having previously worked in sales. Before that he was a PGA qualified golf professional for five years.
Nigel Payne said: “All three of our new recruits are settling in well and helping us to build a trusted mortgage packager by doing things the right way.
“Like all of our staff they will benefit from our employee training and development programme, that will support them to progress in the business as TFC continues to grow.”
Packager TFC Homeloans has joined forces with Equifinance, adding the lender to its second charge mortgage lender panel.
The full range of Equifinance second charge mortgages is available to brokers, plus they will benefit from TFC’s specialist experience and support. The lender takes a fresh approach to seconds, assessing each application on a case-by-case basis and working with clients with a history of adverse credit to find funding solutions.
Nigel Payne, managing director of TFC Homeloans, said: “Equifinance is a great addition to our second charge mortgage panel, with its sensible, individual and refreshing approach to underwriting. Combined with its high service standards it offers a compelling proposition to brokers and clients.”
Tony Marshall, managing director of Equifinance, added: “We are delighted to be included on the TFC Homeloans lender panel and look forward to working closely with Nigel and his team.
“Equifinance helps people who have experienced historical financial problems but who are now on the road to recovery or where we can assist them in that process. Being added to the panel at TFC Homeloans is another positive step towards our ambitions in 2017 and beyond.”