Experian takes stake in UK’s largest fee-free mortgage advisory firm

Nottingham-based Experian has taken a 25% share in the UK’s largest fee-free mortgage adviser.

The deal will see Experian take a minority stake in London & Country Mortgages (L&C), which is based in Bath, but has offices in London and Newcastle and employs 350 people.

Mike Edge, L&C’s chairman will remain the majority shareholder with a “significant” portion of equity remaining with L&C’s management and employees.

Edge said: “We are delighted that Experian has chosen to invest in L&C, a fantastic business that has attracted growing numbers of customers by pioneering high quality, fee free mortgage advice. The market is changing at pace and we are determined to lead the way through this exciting partnership with Experian to accelerate the growth and development of our hybrid digital proposition. Together we will build an even stronger business than we have today.”

Clive Lawson, managing director of Experian Consumer Services, said: “We’re excited about the potential of this partnership and the opportunities we see to work with L&C to improve customer experience in the UK mortgage market.”

The transaction will be subject to FCA consent.

Fenchurch is advising L&C on the transaction. Osborne Clarke is providing legal advice to L&C. Experian is being advised by Eversheds Sutherland.