Precise parent company on lookout for buyer

Precise parent company on lookout for buyer




Charter Court Financial Services (CCFS), the parent firm of Precise Mortgages, is reportedly looking for a buyer to fuel its growth ambitions..

Charter Court Financial Services (CCFS), the parent firm of Precise Mortgages, is reportedly looking for a buyer to fuel its growth ambitions.

Towards the end of last year, the challenger bank managed to smash the £2.5bn lending mark, just eight months after launching.

Elliot Associates, the main shareholder and funder of Precise, may also continue to own a stake in the company but nothing has been confirmed.

Reports suggest that the directors of Precise are looking to float the lender on the stock market within the next few years, regardless of whether it is sold or not.

Last summer, CCFS appointed Deloitte to sound out potential buyers, although the information memorandum will be sent to firms within the next few days.  

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