The lending side of the organisation, which was established last October as a super-branded lender funded by Investec through Infinity Mortgages, will now be known as FML to avoid confusion and to emphasise the separate nature of the organisations.
Terry Pritchard, recently appointed managing director of Freehold, says: “We are aware that Freehold the lender is not run by Freehold the packaging association.”
Unlike Unity Mortgages, which is owned by the members of the Professional Mortgage PackagersAlliance, Freehold’s members do not have shares in the lender.
Instead, Matt Gilmour and Ravi Takhar, the brains behind Infinity Mortgages, have 50% of the shareholding in FML, while former Freehold spokesman Paul Brett and Chris Fleetwood, who runs the PR for Freehold, each has a 25% stake. Freehold members will receive 20% of Brett and Fleetwood’s combined 50% share.