Y3S Group has acquired a 50% shareholding in Pink Pig Loans (PPL), a brokerage which offers second charge mortgages and bridging finance solutions to mortgage brokers and IFAs.
It is the latest investment the Cardiff based specialist mortgage group has made over the last five years. The group now consists of Y3S Loans, Y3S Bridging & Commercial, Y3S Private Clients, Chaseblue Loans, B2B Financial and Pink Pig Loans.
It expects to generate £140m of second charge mortgages and £85m of bridging loans in 2017.
Y3S Group CEO Barney Drake said: “We’re very pleased to announce this latest deal with PPL. MD James Rainbird is a good friend and we have worked in collaboration for many years, so this feels really natural for all of us.
“James is revered by his staff and brokers; his charisma and enthusiasm know no bounds, and he is known and liked by all. He has steered his business successfully through the recession and beyond and it’s now poised for the next stage of growth, which is where Y3S can add real value.
“Pink Pig Loans is an obvious fit into the group and we look forward to assisting its rapid growth over the coming years.”
Rainbird added: “Joining one of the most exciting specialist mortgage brokerages in the UK is an uplifting experience for the whole team at PPL.
“The support offered by Y3S has proven to be an excellent growth formula for its existing investments and I am very much looking forward to developing our business together.”