Fintel buys the rest of Mortgage Brain for £38.4m
The Huddersfield-based adviser software group takes full control of the mortgage sourcing and CRM supplier it first backed in 2024, and its chair turns executive to run the integration
- Mortgage Brain is expected to deliver c.£12m of revenue in 2027, £10m from software and data and £2m from mortgage events, with earnings before interest, tax, depreciation and amortization (EBITDA) of c.£3.8m
- Fintel expects the deal to enhance earnings in FY27 after c.£2m of interest and c.£1.5m of amortization
- Mortgage Brain's contracted customers write c.40% of UK first-charge residential and buy-to-let mortgage applications
- A renewed long-term partnership will deploy AI-enabled workflow tools to more than 3,000 adviser licenses
Brokers, networks and multi-disciplinary advice firms that buy sourcing and CRM tools from Mortgage Brain now deal with a supplier that also owns Defaqto's product ratings and part of Plannr, putting mortgage and wealth software under one vendor. Rival adviser-platform and mortgage-technology suppliers face a competitor that can sell a single mortgage-to-wealth stack into enterprise deals. Neither announcement sets out pricing, roadmap or contract changes for existing Mortgage Brain customers.
“The acquisition strengthens our Software & Data division, expands our capabilities across wealth, mortgage and multi-disciplinary advice firms, and increases the scale of our proprietary data assets.”Matt Timmins, chief executive, Fintel
Fintel, the AIM-listed group behind Defaqto and Simplybiz, said on 23 October that it had acquired the remaining equity in Mortgage Brain Holdings for £38.4m net of cash acquired. It paid £28.9m in cash on completion from existing resources, with £9.5m deferred for 18 months.
Fintel bought its first 5.8% of Mortgage Brain for £1.5m in March 2024. Mortgage Brain sells sourcing, criteria, affordability, customer relationship management (CRM) and submission software to mortgage advisers, lenders and networks. The holding company also includes AE3 Media, a mortgage and protection media, events and insight business.
Mortgage Brain already runs a two-way product integration with Plannr, the adviser operating platform in which Fintel holds 49%, connecting mortgage and wealth workflows for firms that advise on both. Fintel said advisory businesses are increasingly looking for integrated alternatives to legacy technology platforms, and that the deal improves its ability to win a growing pipeline of enterprise opportunities.
Who runs the combined division
Zahid Bilgrami, chief executive of Mortgage Brain, will lead Fintel's Software & Data division. He previously ran Defaqto, and said the move “brings me back to the business I led for a decade”.
In a separate announcement, Fintel appointed its chair, Phil Smith, as executive chairman for an expected 12–18 months to lead the integration, working four days a week at first. Smith founded Embark Group. David Thompson, chief financial officer, becomes chief financial and operating officer, adding technology, IT infrastructure, human resources, legal and risk. Matt Timmins, chief executive, will put more focus on the enterprise sales pipeline.
Sources
- Fintel plc, “Acquisition of Mortgage Brain Holdings”, RNS announcement, 23 October 2026. https://www.investegate.co.uk/announcement/rns/fintel--fntl/acquisition-of-mortgage-brain-holdings/9837584
- Fintel plc, “Directorate Changes”, RNS announcement, 23 October 2026. https://www.investegate.co.uk/announcement/rns/fintel--fntl/directorate-changes/9837778
- Mortgage Solutions, “Fintel strengthens software and data strategy with Mortgage Brain acquisition”, 23 October 2026. https://www.mortgagesolutions.co.uk/mortgage-news/2026/10/23/fintel-strengthens-software-and-data-strategy-with-mortgage-brain-acquisition/
- TheBusinessDesk, “Fintel strikes £38.4m deal to take control of Mortgage Brain”, 23 October 2026. https://www.thebusinessdesk.com/yorkshire/news/2162044-fintel-strikes-38.4m-deal-to-take-control-of-mortgage-brain
