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Lamensdorf buys up Flexible Mortgages

IFA group Lamensdorf is buying mortgage brokerage Flexible Mortgages Limited for an undisclosed sum ahead of its proposed flotation next spring.

Middlesex-based FML will bring 25 mortgage advisers, including two RIs, into Lam-ensdorf Group, under the new name of Lamensdorf Mortgages.

The deal will see FML chairman Geoff Iveson take a seat on the board of Lamens-dorf as sales and marketing director as the next stage of the boardroom reshuffle that last week saw Howard Will-iams move over from managing director to business development director.

Lamensdorf is planning a string of IFA acquisitions in the coming months ahead of its Aim listing as it looks to diversify its sector coverage around its core investment business.

It sees exchange listing as key to its growth strategy as it will enable it to offer takeover target directors tradable shares with a clear value rather than private company shares.

Lamensdorf chairman and chief executive officer Ken Newell says: “By acquiring FML we are demonstrating our belief in the mortgage market by acquiring an excellent team and an extensive client base.

“This has been a longterm goal and one that is part of our strategic growth prior to seeking a listing for our stock next year.”

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