Deal between Habito and L&C ends: Bloomberg



Discussions to combine Habito and L&C have come to an end, reports Bloomberg.

The news of a possible combination first surfaced in April this year.

It would have seen L&C’s over-the-phone business combine with Habito’s technology offering to create one of the UK’s largest mortgage brokers.

Bloomberg says that with this potential deal ended, Habito is exploring other options for its future, such as further fundraising or putting itself up for sale.

Additionally, Mortgage Strategy has heard reports that a number of brokers and case managers currently working at Habito have allegedly been given two months’ notice.

This year has already seen a number of acquisitions in the mortgage broker and its associated fintech space – earlier this month, Mortgage Advice Bureau completed its purchase of The Fluent Money Group while mortgage and protection aggregator Pivotal Growth acquired The Buy to Let Broker.

A Habito spokesperson comments: “We aren’t able to comment on people matters or industry rumours but we can confirm that we’re exploring multiple strategic partnerships, a number of which are in advanced stages. We look forward to sharing our future plans in due course.”

L&C declined to comment.