Charter Court ponders £500m float
Charter Court, the specialist mortgage bank based in Wolverhampton, is planning to raise over £20m from a float which could value the company at more than £500m.
Established in 2008, Charter Court is now one of the leading specialist lenders serving the UK residential mortgage market and operates through its three core brands: Precise Mortgages, Savings Bank and Exact Mortgage Experts.
The board's vision for the group is to build a market-leading specialist financial services institution, offering a focused real estate mortgage lending proposition, having generated substantially all of its mortgage loan portfolio through organic growth.
Ian Lonergan, CEO of Charter Court, said: “Since our formation in 2008, the hard work in building this bank and its scalable growth platform has resulted in us being one of the leading specialist mortgage lenders in the markets in which we operate and we have also built a successful online savings bank offering sight and term deposits.
“We are now focused on the next phase of our development intended to drive sustainable, profitable growth and generate attractive returns whilst maintaining our approach to asset quality.
“We believe this is therefore the right time for this IPO, which will enhance our profile as we look to leverage our specialist skills and capabilities to exploit the opportunities we see for further growth in our chosen specialist mortgage markets.”
Published: 06 September 2017