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Network Data may set up lending company

Network Data Holdings is considering setting up a lending operation in the early part of next year.

The parent company of Network Data, which floated on Aim last month, is looking at launching a dormant firm it owns, Homeowners Mortgages. HM was set up in November 2005. It is not clear where it would operate in the market but is likely to seek niche business. It will look at all funding options, including equity investment from other parties.

A launch could mirror Close Brothers subsidiary network Mortgage Intelligence, which set up a lending arm this year.

Network Data says in its Aim prospectus: “The directors are evaluating the benefits of launching HM as a mort-gage lender to develop a profit stream in the short-to medium-term as a long-term asset within the group. The earliest anticipated launch would be 2007.”

London & Country head of communications David Hollingworth says: “I would have thought HM is likely to concentrate on one niche.”


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