John Eastgate

Shawbrook Bank acquires TML



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Shawbrook Bank has strengthened its position in the BTL and residential markets by agreeing the terms of the acquisition of specialist intermediary-only mortgage business, The Mortgage Lender (TML).

The bank has agreed to acquire TML — which will retain its brand — for an undisclosed fee.

The acquisition, which has regulatory approval, will extend Shawbrook’s property finance product range and increase its distribution network.  

Subject to satisfaction of the remaining conditions to the acquisition, completion is expected to occur in February 2021.
 
John Eastgate, managing director of property finance at Shawbrook (pictured above), said: “The acquisition of TML is an exciting opportunity for both organisations.  

“It positions Shawbrook in front of a much wider intermediary audience and reinforces TML’s growth plans with the strength of a retail savings franchise. 

“It will also allow us to maximise the benefits of our substantial investment in digital and enhance our offering to intermediaries.
 
“Shawbrook has long had an outstanding reputation with its intermediary partners and, in a relatively short period, TML has achieved the same, creating a very strong brand that will remain in place.
 
“The combination of the two businesses creates an even more powerful force in the specialist lending market.  

“The breadth of the product range and strong digital capabilities makes the group relevant to effectively all mortgage intermediaries in the UK.”  
 
The full acquisition of TML follows Shawbrook taking a minority share in the business in 2018. 
 
John added: “We have built an excellent relationship with TML management over the last three years.
 
“This acquisition is a natural extension of that relationship, and the experienced TML leadership team will strengthen our existing management as we enhance our presence in the specialist lending market.”
 
Peter Beaumont, chief executive at TML, stated: “The deal is great news for TML, our broker partners and borrowers. 

“It will underpin our growth and the expansion of our proposition. 

“The backing of an established retail savings franchise provides us with the security that will help us to grow and to challenge the larger players.
 
“But it’s very much business as usual. 

“We will be retaining our brand and will be a separate regulated entity, however we will soon begin to leverage from all Shawbrook has to offer to make our business stronger and more successful.

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