View more on these topics

Ex-Mortgages PLC boss sets up new lender

House-Home-Property-Ladder-Mortgage-700x450.jpg

Former Mortgages PLC chief executive David Pothecary is setting up a new company called The Mortgage Lender with several former colleagues.

The new company will be a specialist lender.

The firm has not officially launched, but Companies House documents confirm that Pothecary, currently chairman at RPS Capital Partners, is its principal.

The Mortgage Lender has four directors: Pothecary, former Mortgages PLC operations director Hugh Meechan, P&S Thomson Consultancy director Peter Thomson and The Business Lender director Alex Cameron.

Trevor Pothecary is the main shareholder in The Mortgage Lender, followed by Maureen Pothecary. The two own 600,000 of the firm’s 975,000 shares between them.

Other shareholders include Meechan, Thomson and Cameron, as well as Pothecary’s former Mortgages PLC colleagues Scott Callaghan, David Newman, Ailsa Smith, Stephen Crawford, Claire Duncan and Susan McCallum.

Further shareholders include Tom Tredwell, who works alongside Pothecary and Newman at RPS, and Derek Brown.

Mortgages PLC was sold to Japanese-financed Majestic Acquisitions in January 2002 in a deal thought to be worth close to £40m.

Majestic then sold its stake in Mortgages PLC to investment bank Merill Lynch in November 2004.

Pothecary did not respond to requests for comment.

Recommended

FCA interior logo 620x430
5

FCA: EU disclosure rules confuse consumers

The FCA is warning onerous European disclosure requirements risk disengaging consumers and damaging their ability to make decisions. In the regulator’s response to the European Commission’s call for evidence on Europe-wide regulation, it says firms are forced to disclose an ever-increasing amount of information. Regulations such as Mifid II and Priips risk “confusing and discouraging […]

Old-Bailey-Justice-Fine-Ban-700x450.jpg

Former accountant behind £140m Ponzi scheme returns to prison

A former accountant and an accomplice have been imprisoned after failing to pay their confiscation orders following a conviction for running a Ponzi scheme. Ex-accountant Shinder Gangar and Alan White have been handed jail terms of six and three-and-a-half years respectively for not making the payments of £2.3m and £690,000. They should have paid the […]

Graphic content – December; the countries most exposed to a rise in protectionism

President-elect Trump has suggested withdrawing from the North American Free Trade Agreement (NAFTA) and ending negotiations over the Trans-Pacific Partnership (TPP), albeit there is considerable uncertainty over what he will, or even can, do. If one of the main consequences of the election of Donald Trump is US protectionism, it’s worth considering who stands to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment