Mortgage Advice Bureau (MAB) has acquired a 25% stake in The Mortgage Broker Limited, which is part of TMBL Group.

The Mortgage Broker provides mainly telephone advice throughout the UK and was formed in 2011.

The deal will see Mortgage Advice Bureau become a strategic partner as both firms believe they can achieve greater outcomes by working together.

Peter Brodnicki (pictured), CEO of Mortgage Advice Bureau, said: “We’re delighted to complete this investment. The Mortgage Broker is predominantly a process-driven telephone advice business with a clear strategy to grow market share.

“They are an exciting new partner for MAB, and a great fit alongside many equally forward thinking and ambitious firms we already work with.”

Darren Pescod, managing director of The Mortgage Broker, added: “We are proud to have the backing of MAB as it signifies that they share our vision. It also shows that they support our ‘telephone mortgage’ process and the high customer service levels we provide, which we believe are the way forward.

“By partnering with MAB, we have been provided with access to new technology and a vast experience of likeminded people, which is beneficial as we continue to grow and realise our vision of becoming the UK’s most trusted and respected mortgage broker.”