Experimental feature

Listen to this article

Experimental feature

Private equity firm Corsair Capital is close to buying almost a third of mortgage broker London & Country, according to people familiar with the situation.

L&C is the UK’s largest fee-free mortgage broker. Unlike other brokers, it does not charge customers a fee for its services, and is paid instead by commissions from the lenders. The company has been looking for an investor since last autumn ahead of a potential IPO within the next few years.

Corsair, which specialises in investing in the financial services industry, is likely to take a 30 per cent stake in L&C in a deal which values the mortgage broker at around £150m.

Lord Davies, the former UK trade minister who chairs Corsair, is likely to take a seat on the L&C board.

L&C and Corsair declined to comment.

Get alerts on Private equity when a new story is published

Copyright The Financial Times Limited 2019. All rights reserved.

Comments have not been enabled for this article.

Follow the topics in this article