Pagos has taken a passive, minority shareholding, providing funds that Crystal says will be used alongside its own capital reserves to make acquisitions, “which serves mortgage brokers and professional introducers,” explains Crystal.”

It adds that it is currently in “advanced negotiations” with a number of companies in line with its acquisition strategy.

Crystal group sales and marketing director Jason Berry says: “The specialist market is set to offer huge opportunity during the next few years, so this new investment coupled with our own acquisitional funds comes at the perfect time for us.

“It provides a war chest which we will use with diligence to grow both organically and through acquisition.”

He continues: “Our specific proposition is an attractive one to investors because of the depth of experience and activity we deliver in the specialist market.

“Based purely on the value of the loans Crystal completed in 2021, if we were a specialist lender, we would be comfortably sitting at the top table.”

And Simply Biz Mortgages chief executive Martin Reynolds says: “[This year] is set to be very busy for mortgage brokers with a record high number of cessations plus the continuation of a very active purchase market.

“This can create time challenges when it comes to placing, administrating and completing on complex applications. Therefore, those specialist distributors who best deliver referral solutions or alternatively support brokers with accurate placement, accompanied by consistent service, will prosper most.

“It is very positive to see a firm like Crystal looking to invest in and support this growing market.”