As part of the deal, Twenty7Tec sales director Phil Bailey will take on the role of Meet Parker managing director for 15 months from October this year.

Alongside this move, Twenty7Tec head of intermediary Niki Cooke will be promoted to director of intermediary relationships and Nathan Reilly will be go from being head of lender relationships to director of lender relationships.

Twenty7Tec reports that it will integrate Meet Parker onto its platform over the next 12 months.

Twenty7Tec chief executive James Tucker says: “Since we opened our doors in 2015, we have relentlessly pursued our mission to make mortgages simpler, faster, and more efficient, and our investment in Meet Parker will allow us to make gains in all three of these areas.”

And Bailey comments: “It’s a great honour to be part of the Twenty7Tec family, and I am looking forward to the challenge of leading and growing the business at Meet Parker. The opportunity to run such an innovative business, with the backing and blessing of Twenty7Tec was too good to pass up”.

Meanwhile, Meet Parker founder Freddie Savundra says: “I’ve always been an admirer of Twenty7tec. We share the same goals and ethos of making markets more efficient and improving customer service. They’re clear in what they’re going to do and then they deliver.

“Our ambition is to apply augmented intelligence technology to every stage of the property buying journey, from helping buyers find the right property, to escalating complex enquiries that fall out of traditional criteria to the right team at the right lender.

“We’re at the foothills of something genuinely very exciting, and our long-term partnership with Twenty7Tec means we are working alongside the very best in class.”