Belvoir Group PLC - Lincolnshire, England-based property franchise group - Agrees to buy Nottingham Mortgage Services Ltd, a subsidiary of Nottingham Building Society, for GBP600,000 in cash. Completion to take place on July 31 and acquisition expected to be immediately earnings accretive.
At the same time, Nottingham Building Society is entering into a ten-year agreement with Mortgage Advice Bureau PLC to provide mortgage and protection advice, through Belvoir as an appointed representative of MAB, to its members via its branch network and over the phone.
"This further strengthens Belvoir's strategic alliance with The Nottingham following Belvoir's undertaking of all estate agency and lettings services through The Nottingham's branch network in 2020," company says.
Current stock price: 246.50 pence
Year-to-date change: up 63%
By Lucy Heming;Â lucyheming@alliancenews.com
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Mortgage Advice Bureau (MAB1)