Experian enters race for share of mortgage broker, say reports
Nottingham-headquartered credit checking agency Experian is reported to be lining up a bid for part of London and Country Mortgages as the firm attempts to sell off part of its business ahead of a flotation that could be worth up to £300m.
The Telegraph is reporting that Experian could be in for 25% of the fee-free mortgage broker, which appointed advisers last year to sell the chunk of the business before it looks at floating.
Reports suggest that Experian is favorite to win the ace after private equity firm Corsair Capital pulled out.
The Telegraph says it is not clear when Experian entered the chase, nor when the deal might be finalised.
London and Country London and Country’s most recent accounts show that its revenues grew 25% on the previous year to £44m while profit before tax rose 14% to £9.5m.
The firm has offices in Bath, London and Newcastle.
