Mortgage Advice Bureau (MAB) has completed its acquisition of The Fluent Money Group.

The plan to do so was first announced at the end of March this year, in which MAB agreed to buy 75% of the firm for a cash payment of £73m.

The final deal saw MAB close the purchase of 75.4% of the group for £72.7m.

MAB chief executive officer Peter Brodnicki says: “We are very excited to partner with a like-minded management team and high growth intermediary that is a leader in centralised telephone mortgage advice.

“This acquisition is a perfect example of our strategy to invest in complementary businesses and platforms to help accelerate growth by broadening our proposition to access more customers.

“MAB has targeted the fast-growing sector of national lead generation by using technology to link together its key appointed representatives and invested firms seamlessly.

“Combined, we expect that Fluent and MAB will be able to grow this new market share opportunity quickly and effectively, complementing the local/regional strategy delivered by the rest of MAB’s growing distribution.”