RJS has advised the shareholders of TIME, which trades as the Mortgage Advice Bureau on the sale of the entire issued share capital to Belvoir.

TIME provides mortgage and related financial services to clients through its network of 64 highly motivated advisers, all but two of which are either self-employed or small businesses operating on a self-employed basis licensed to TIME with MAB providing training, support, compliance, website and national marketing via the wider MAB brand. The TIME adviser network extends across the north of England and the Midlands and fits very well into Belvoir’s existing network of advisers.

Belvoir has acquired the entire issued share capital of TIME, through its subsidiary Brook Financial Services Ltd (“Brook”), for net initial consideration of £3,673,000, to be settled in cash from existing cash reserves, with an earn-out of up to a maximum of £695,000 based on profit before tax for the year to 31 July 2022.

The RJS team was led by Director Jennifer Kelly and assisted by Olivia McConvey.

Jennifer commented, ‘We are really pleased to have worked with the shareholders of TIME and help them achieve such a successful exit.’