Mortgage Advice Bureau (MAB) has announced an investment in Hull-based firm, UK Moneyman.

Originally set up in 2009, UK Moneyman is led by Malcolm Davidson, an experienced mortgage adviser with more than 30 years’ industry experience.

As part of the investment, the amount of which was undisclosed, UK Moneyman will become an appointed representative of MAB. The move will also support MAB’s ongoing growth strategy particularly in specialist areas such as later life lending.

MAB, which was set up in 2000, said the company would continue to partner with high-quality firms to help more customers achieve their financial goals.

“We’re thrilled to welcome Malcolm and his team to MAB,” distribution director at MAB, Gareth Herbert, said. “I’ve known Malcolm for over 20 years, and I’m incredibly proud to have him and his team back in the fold. UK Moneyman has a fantastic history of growth, and their plans for the future are impressive.

“I look forward to working together to grow and enhance our proposition, particularly in other areas such as later life lending where UK Moneyman have really excelled. We are all excited about what the future holds for us.”

Davidson added: "We’re delighted to be returning to MAB. It’s clear the scale, support and technology MAB provides will accelerate our growth plans and help deliver even better outcomes for our customers.

“We’re excited about the future together, and are confident that this partnership will help us achieve our goal of being the go-to brokerage for over-50s mortgage advice.”

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