Bilgrami, who is expected to join the mortgage technology business in April, has been the chief executive officer at Defaqto for the past 11 years, during which time he turned around and refocussed the business and grew profitability.

Following the acquisition of Defaqto by SimplyBiz, Zahid led its integration within the SimplyBiz Group.

Before this, Bilgrami was a senior manager in Andersen’s Business Consulting division, and was at Balfour Beatty where he helped the board shape group strategy and led and managed acquisitions.

He is a qualified Chartered Accountant and has an MBA from the London Business School.

Peter Hill, chairman of Mortgage Brain, said: “I’m really pleased to welcome Zahid to Mortgage Brain. He brings a wealth of experience and knowledge to the business as a well-respected CEO with a proven track record.

“Zahid joins at an exciting time for Mortgage Brain where over the past year we have transformed the market through delivering more new technology and with still more to come.”

Meanwhile, Bilgrami said: “I am delighted to take on the helm of Mortgage Brain from Mark’s stewardship.

“The business is well placed to provide new innovative fintech solutions into the mortgage and adjacent markets.

“I will be joining a dynamic management team which is eager to deliver ground-breaking propositions for the benefit of our customers.”

Departing CEO, Mark Lofthouse, added: “I’m looking forward to welcoming Zahid to the Mortgage Brain Family and I know that under his leadership the group will remain true to its core values and continue to lead the market through innovation and delivery.

“It has been a privilege to lead the Mortgage Brain family for almost two decades and retire in the knowledge that the business is in safe hands.”