DWF advise Countrywide on Mortgage Intelligence deal
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Add vCard View BiographyDate: 07/04/11
Business law firm DWF have advised the UK’s largest estate agency chain Countrywide on its substantial acquisition of Mortgage Intelligence. The firm’s team was led by Corporate Partner Lester Wilson.
Established in 1996, Mortgage Intelligence, which merged with Mortgage Next in 2009, has become one of the UK's largest mortgage distribution channels, providing premium broker services to over 6,500 mortgage intermediaries under the brands Mortgage Intelligence and Mortgage Next.
Countrywide’s market share rocketed following the acquisition - taking group’s overall market share to six per cent, while its market share in the advised space market will increase to 11 per cent. Mortgage Intelligence transacted a huge £3.5bn of mortgage deals in 2010, in what was considered at the time to be a suppressed market.
Countrywide is the UK's largest mortgage broker and property services Group, it is a leading provider of integrated property services, employing around 8,000 people across the country.
Mortgage Intelligence will operate independently of Countrywide's existing 650 mortgage consultants.
Lester Wilson, Corporate Partner at DWF said “This is significant deal that will change the mortgage brokering market. It’s a fantastic growth platform for Countrywide and a deal that will see the group consolidate its position as a leading mortgage broker and property services specialist
