Charter Court is the parent company of Precise Mortgages, Charter Savings Bank and Exact Mortgage Experts.
Charter Court hopes the IPO will position the company for the next stage of its development and further raise its profile, while assisting in retaining and incentivising employees and providing it with a platform for future growth as well as enabling the selling shareholders to partially release their investment.
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Charter Court is a specialist lender in the buy-to-let, specialist residential, second charge and bridging markets. It had a £4.4b net mortgage loan book as of 30th June 2017 and has generated mortgage originations of £2.5bn in 2016, up 55% on 2015.
Alan Cleary, managing director of Precise Mortgages, said it saw an exciting future ahead for Charter Court.
“Since our formation in 2008, the hard work in building this bank and its scalable growth platform has been achieved and the volume of our business already is outstripping some of our listed competitors.
“We are now focused on the next phase of our development and I believe our IPO and listing will further enhance Charter Court’s profile and support our future growth.”
Broker Peel Hunt is acting as co-lead manager on the transaction alongside a number of major banks.
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