Mortgage 1st acquires Peak Mortgages

"I’m excited to welcome everyone from Peak into our team and can’t wait to see how both brands continue to grow alongside one another."

Mortgage 1st has acquired fellow Derbyshire-based firm Peak Mortgages & Protection.

This is the first acquisition by Mortgage 1st and will see the firm increase its adviser head count by more than 30%.

Mortgage 1st, which is an appointed representative of Stonebridge, was formed in 2008 by Jon Stones as the sole adviser and operated that way for the first five years.

The Peak brand will continue as a trading style under Mortgage 1st with founder Rhys Schofield continuing his role as the face of Peak and overseeing its advisers.

Jon Stones, managing director at Mortgage 1st, said: “The opportunity to bring Peak in to Mortgage 1st is a unique and ideal scenario, one that will see us continue to grow but also maintain the exceptional culture that we have built at Mortgage 1st. Rhys has done a wonderful job with Peak, quickly establishing their standing as the go-to brokerage in Belper before expanding that proposition across Derbyshire. During preliminary discussions it became very apparent that we shared the same core values as business owners which played a key role in getting this deal done so quickly.”

Lisa Stones, operations director at Mortgage 1st, added: “After months in the planning we are delighted to get this over the line. This deal wouldn’t have been possible without the help and support of Stonebridge and we look forward to continuing the working relationship with them for many years to come. I’m excited to welcome everyone from Peak into our team and can’t wait to see how both brands continue to grow alongside one another.”

Rhys Schofield, founder of Peak Mortgages & Protection, commented: “We are extremely proud and privileged to be a part of Mortgage 1st. Working alongside like-minded people, who share the same drive and dedication was an absolute must for me, knowing that my team could fulfil their own ambitions and be supported along the way was huge from a personal perspective. Jon and Lisa have built a wonderful brand, visiting their head office and speaking with the wider team was pretty inspiring, having witnessed their recent growth trajectory and knowing what is planned for the next couple of years, I knew this was the perfect home for Peak.”