Former handling director of Clever Lending Sam Kirtikar (visualized) has actually purchased a bulk stake in The Mortgage Broker Group and will take control of as active CEO of the business.
He takes over from Darren Pescod, who established the business. Pescod will step down as CEO and will end up being a minority stakeholder in the business.
Kirtikar has history with The Mortgage Broker, having actually signed up with as an expert and after that going on to end up being interim CEO function in 2020 and operating at the company for around 2 years throughout the pandemic.
Speaking to this publication, Kirtikar said: “The Mortgage Broker is an extremely strong brand name, with some actually proficient consultants within it. Having had some outstanding accomplishments in the past, consisting of premier client evaluations and acclaimed brokers, I am happy to have the chance to come back into the business having actually guided it through the pandemic, and actually have the chance to help it grow.
“With presence across the UK, I aim to support its focus across the whole market.”
Kirtikar has a long history in monetary services, leading Clever Mortgages and Clever Lending’s entry to market in 2015 and functioning as handling director till 2020.
Clever Mortgages is a brokerage that specialises in assisting those with bad or poor credit discover the ideal home loan, and Clever Lending uses professional property financing options such as business home mortgages, bridging and advancement financing and portfolio purchase to lets.
Following his time at The Mortgage Broker, he went on to be a co-founder for Flycovr in 2021, which is a digital air travel insurance coverage market.
The Mortgage Broker was introduced in 2011 and presently processes almost half a billion pounds of home mortgages each year, and over the next 3 years prepares to help customers with home mortgages to the worth of £1bn each year.
Kirtikar said that the business is on a “growth plan” and is hiring brand-new consultants, having actually got 20-plus consultants on its lineup already. These are a mix of self-used, employed and branded partners.
He continued that the company would utilize “key technology to integrate with our partners and grow out a really consumer friendly onboarding process”.
“We were number one on Trustpilot during the pandemic for a reason. However, we want to take that service and make sure that we become a bit more commercial and enhance our partnership package whilst maintaining a consumer-facing brand,” Kirtikar said.
‘A fresh start for the business’
The Mortgage Broker is an Appointed Representative of the Mortgage Advice Bureau, with the MAB’s CEO Peter Brodnicki including that he and MAB “wholeheartedly support Kirtikar in his purchase of TMBL and are completely behind him with this growth strategy”.
Kirtikar said that he desired everybody to understand that this is a “fresh start for the business”.
“The management buyout is finished now; all has actually been concurred with the assistance of MAB and we start afresh. My business relationships are already in location within the business, I worked carefully with the staff throughout the pandemic, and constructed actually tight bonds with them.
“We got through the pandemic together, and really only half my work was done and I wanted to come back personally. I really felt a passion for the brand and the business and I wanted to make it the successful business it should be,” he included.
Kirtikar said that the company had “a lot of credibility and a lot of background successes from previous ownership” of Pescod however it’s “time for a fresh start, and a fresh approach into the market and how things are done”.
