View more on these topics

Buy-to-let lender lines up £500m IPO

House-Home-Protection-Mortgage-700.jpgPrecise Mortgages’ parent Charter Court Financial Services is close to announcing a £500m flotation on the London Stock Exchange.

The firm was looking to sell last year, but switched its attention to floating, and Sky News reports this could be announced this week.

Charter Court has hired Royal Bank of Canada, Barclays and EY to help with the flotation.

Charter Court also owns the Exact Mortgage Experts and Charter Savings Bank brands, and is owned in turn by hedge fund Elliott Associates.

A Charter Court spokesman declined to comment.

Charter Court ran an auction last year and called for bids in the £400m range,but the deal fell through.

BC Partners, General Atlantic Partners, a bidding group of Warburg Pincus and Centerbridge, and Varde Partners were reported to be interested in buying Charter Court.



FCA sets up redress scheme over mortgage advice suitability

Mortgage broker Mortgage Matters has agreed to set up an FCA-monitored redress scheme over potentially unsuitable advice it gave to historic debt consolidation mortgage clients. Altrincham-based Mortgage Matters, which is no longer trading, has to appoint a third party to write to all its affected customers from between 1 January 2007 and 7 July 2014. […]


Harrods Bank suspends new mortgage business

Harrods Bank has stopped taking mortgage applications for three months following reports of a sale. Money Marketing sister publication Mortgage Strategy reports the world-famous department store’s banking arm offers residential mortgages between £1m and £10m and buy-to-let loans between £1m and £5m. It also handles personal loans, savings accounts and gold bullion services. Harrods Bank […]


How to get ahead of the FCA’s suitability scrutiny

One of the key issues emerging from the FCA’s suitability review this year was that fault could be found with almost half of the disclosure documents issued by advice firms. The FCA has said it will not undertake its follow-up review until 2019; however, it will base this on advice provided in 2018. This means […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment