EXCLUSIVE: Countrywide eyes up Mortgage Advice Bureau

Sources close to the deal say that if any transaction went ahead it would be “more a joint venture than a buyout”.

A tie-up with MAB would be attractive to Countrywide and would complete its second mortgage network purchase in as many months.

Nigel Stockton, financial services director at Countrywide, has been outspoken about the firm’s intention to acquire further financial services businesses this year.

In May the national broker and estate agent bought Mortgage Intelligence along with its DA club Next Intelligence.

And in an interview in this month’s issue of Mortgage Introducer magazine Stockton said: “We remain acquisitive. Until we had a network we had nowhere to put AR firms we might have been interested in investing in.

“We moved Hurst and Slater Hogg across to Mortgage Intelligence because we now have a place where those sorts of firms which need to be independent can sit under our own scheme. So am I in the market to buy more ARs? Absolutely I am.”

Countrywide has been linked with various potential deals in recent months including Savills Private Finance and Personal Touch Financial Services, though neither came off.

In June 2010 Countrywide bought Hamptons International and the following month it purchased the Letmore Group. It also bought Sotheby’s International Realty franchise in the UK early last year.

Asked about a potential deal being announced with MAB next week Stockton said: “We never comment on market speculation.”

Peter Brodnicki, chief executive of MAB, was unavailable for comment.