MAB and Penrith announce partnership

Mortgage Advice Bureau and Penrith Building Society have announced a new partnership.

The move is to support Penrith Building Society in building greater economies of scale by providing access to Mortgage Advice Bureau’s training academy and systems, according to the firm.

Cumbria Mortgage Centre Limited is the subsidiary company of Penrith Building Society and will now operate as an appointed representative of Mortgage Advice Bureau.

Mortgage Advice Bureau chief executive Peter Brodnicki comments: “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, and this strategic partnership will enable Penrith Building Society to continue scaling up its operation.”

Penrith Building Society chief executive Tim Bowen adds: “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 cultural fit is superb and by benefitting from the Mortgage Advice Bureau, we can focus on further enhancing our proposition for our members, both existing and new.”

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