Mortgage broker London & Country weighs up £300m sale or IPO

London & Country Mortgages (L&C), the city-based mortgage advisor, is weighing up a potential sale or initial public offering (IPO) that could see its value placed in the nine figures.

The firm has appointed Fenchurch Advisory Partners to run a twin-track sales process that will see it offered to rival brokers, banks, independent financial advisors and comparison websites.

While an L&C spokesperson would not comment on the value of a sale or float on the London Stock Exchange, The Telegraph has reported that it could be valued at up to £300m.

The spokesperson said: “L&C confirms that, following receipt of certain expressions of interest, it has appointed Fenchurch to advise on a range of strategic options for the business including a potential sale or initial public offering.

“There is no certainty that this review will lead to a transaction and L&C will also consider the benefits of continued growth of the business under its current ownership.”

Last year the firm, which also has offices in Newcastle and Bath, reported a pre-tax profit of £8.5m and a £35.2m revenue.

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