Contractor Mortgages Made Easy buys IFA firm

A mortgage brokerage business aimed at providing hassle-free financial products to contractors has acquired an IFA to freelance professionals for an undisclosed sum.

In an announcement on Friday, Contractor Mortgages Made Easy said it had bought Contractor Financials Ltd, in a deal that combines the two separate businesses into one.

Promising that the merger will allow it to deliver over 6,000 mortgages a year, the boss of the enlarged business indicated that the tie-up would pay dividends to contract workers.

“We know this opportunity will allow us to have greater influence on lenders” said Sat Singh, chief executive of Contractor Mortgages Made Easy, who will be the merged group’s CEO.

“We are keen to broaden the choice for this growing sector and will continue working to develop financial products that meet contractor’s [sic] needs.”

He added that, as a result of the deal, more than 130 staff will be on hand to “persevere to remove the difficulties” that the typical independent worker faces when seeking a mortgage.  

Mr Singh also spoke of “ambitious growth plans”, thanks to private equity firm Livingbridge, which will invest in the new mortgage business so it can expand and invest in new systems.