SHAWBROOK BANK ACQUIRES TML

Shawbrook Bank has acquired The Mortgage Lender for an undisclosed sum underpinning its plans to grow market share in residential and buy to let markets.

The deal, which has regulatory approval, provides TML with balance sheet funding for its existing specialist, intermediary-only mortgages alongside the ability to expand its product range in the future.

The deal proves positive for TML, their broker partners and borrowers alike; working closely with Shawbrook for 3 years has shown a progression of the partnership, alongside a great strategic and cultural fit for both businesses.

The acquisition provides the strength of a retail funded bank for TML’s buy-to-let and residential propositions together with the ability to expand their product range in the future.

Regardless, things are still business as usual. TML are retaining the brand, operating as a separately regulated entity and are recruiting to support existing borrowers and increased lending volumes.

TML will also be investing in the business to accelerate their digital transformation and build on the success as originators in the specialist intermediary-only mortgage market.

Shawbrook commented: ‘“The acquisition is an exciting and unique opportunity for both Shawbrook and TML and will help to drive further growth in the Property Finance franchise.

“TML is a highly respected business and is already well known to us given the successful partnership we’ve developed over the past three years. The acquisition offers strong strategic alignment, adding significant depth and expertise as well as access to adjacent specialist markets. It will also serve to maximise the benefits of investment in our digital capabilities and enhance our offering to intermediaries.”