Precise Mortgages parent company in buyout talks
Precise Mortgages managing director, Alan Cleary, has confirmed that Charter Court, the specialist challenger bank and owner of Precise Mortgages and Charter Savings Bank, is seeking a buyer as part of its growth plans.
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Charter Court Financial Services was founded in 2008 and is backed by US investor Elliott Management, who have not ruled out a continued stake in the firm.
Precise Mortgages launched in 2010 and specialises in the residential, buy to let and second charge markets.
Charter Court recently announced that it passed through £2.5 billion of mortgage completions to the end of October 2015.
Alan Cleary said that the firm could not comment on speculation, but confirmed the accuracy of the news.
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