The deal adds strength to John Charcol’s existing mortgage advisory business, as well as adding a new secured loan capability, Simply Loans, to meet the growing market of customers seeking a second charge on their property.
Under the terms of the deal, John Charcol’s CEO, Simon Knight, and Managing Director, Walter Avrili, will join the Simply Finance board. Founding directors of Simply Finance, Peter Williams and Ben Larkin, will join the senior management team at John Charcol. The deal means that John Charcol now has over 115 mortgage advisers.
Simon Knight said:
“The acquisition of Simply Finance is a key part of our growth strategy giving us immediate increased capacity, an extension to our customer proposition, and capabilities that complement our existing areas of strength. Both Peter and Ben are entrepreneurs who have successfully built a hugely impressive business supported by a great team of people, with lots of potential to continue to grow.”
Peter Williams added:
“John Charcol is a natural partner for us as we enter our next phase of growth. It is a growth-orientated business with a clear strategy led by an exceptional management team. This is a great deal for our staff and customers enabling us to invest further in areas of the business where we can offer a winning mortgage proposition.”
