Capita has acquired third-party supplier and rival mortgage provider Vertex Mortgage Services in a deal worth £35 million.

Vertex employs 340 workers and achieved an annual turnover of £22.9 million at the close of its last financial year.

Capita chief executive Andy Parker commented: “As part of our strategy to support the financial services industry, Capita’s ambition is to become the mortgage processing partner of choice for existing mortgage providers and challenger banks.

“The acquisition of Vertex MS is another key step towards achieving this goal. This is a market-facing continuous regulatory change and changing customer behaviours, and with Capita’s breadth of services and expertise we are well placed to help organisations with these challenges. This market therefore offers significant growth potential for Capita.”

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