"We are proud to be the first Building Society to enter into this type of pioneering partnership with Mortgage Advice Bureau."
Cumbria Mortgage Centre – a subsidiary company of Penrith Building Society – will now operate as an appointed representative of Mortgage Advice Bureau.
Penrith will gain access to Mortgage Advice Bureau’s training academy and systems, whilst continuing to offer its own set of mortgage products.
Peter Brodnicki, CEO of Mortgage Advice Bureau, said: “We are delighted to welcome Penrith Building Society into the Mortgage Advice Bureau network. This joint initiative is the first of its type for both firms which will bring together two very forward-thinking and ambitious businesses. The culture fit is excellent, and this strong strategic partnership will enable Penrith Building Society to continue scaling up its operation.”
Tim Bowen, CEO of Penrith Building Society, added: “We are proud to be the first Building Society to enter into this type of pioneering partnership with Mortgage Advice Bureau. Part of our longer-term strategy includes the identification of market leading businesses with whom we can form strategic partnerships. The possibilities that have led us to entering into this initiative were far too compelling to ignore. The cultural fit is superb and by benefitting from the industry leading skills, knowledge and resources of MAB, we can focus on further enhancing our proposition for our members, both existing and new.”
