London & Country set for IPO in 2018

Ryan Bembridge

November 7, 2016

London & Country Mortgages will launch an Initial Public Offering by December 2018 subject to market conditions, the mortgage broker has confirmed.

Before floating L&C plans to seek an investor for a minority stake in the company to help grow the business.

It plans to accelerate its online capabilities and brand awareness as well as make appointments to the company’s management and corporate governance.

Phil Cartwright, managing director of L&C, said: “We see an opportunity to create significant value in the next few years.

“The business is at the forefront of investment in distribution technology and is extremely well positioned to take advantage of shifting trends in the way consumers buy financial products.

“In combination with our qualified mortgage adviser sales force, this will deliver an unparalleled service giving customers choice about how they access our award winning, fee free mortgage advice.

“We have some exciting new initiatives that our customers and business partners will start to see over the next 12 months and we are confident that, with the additional support of a strategic minority investor, we can bring forward L&C’s goal of becoming the next household name in financial services”

In June an article in The Times put London & Country Mortgages’ stock market valuation at £300m.

The business is the UK’s largest fee-free mortgage broker.

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