UK's Shawbrook Bank agrees to acquire The Mortgage Lender

Shawbrook Bank Ltd. agreed to acquire 100% of the share capital of The Mortgage Lender Ltd., with regulatory approval received from the U.K. Financial Conduct Authority.

The acquisition is expected to complete in February, subject to the satisfaction of the remaining conditions.

The terms of the deal were not disclosed.

Shawbrook Bank is a part of Shawbrook Group PLC, the British bank that acquired a minority stake in the mortgage lending services provider in 2018.