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SimplyBiz drops sale/IPO plan

Support services and compliance firm SimplyBiz has shelved plans to sell the business or launch an IPO and is instead exploring alternative funding options to remain independent.

In January, SimplyBiz, the parent of mortgage club SimplyBiz Mortgages, confirmed it was considering floating on the Alternative Investment Market or selling a stake to a trade buyer or private equity in a bid to raise money for future growth.

However, managing director Neil Stevens says the firm no longer wants to give control to an external buyer and will not pursue an IPO for “at least a couple of years”.

He says: “We are determined to build for the long term.”


Bob Young Fleet 2014

Analysis: Top-down approach is vital to our sector

During the election campaign, one of the much over-used phrases was “top-down” – normally in relation to the NHS, with the main parties accusing each other of failed and costly top-down reorganisations. Top-down in this sense is a blatant negative. But in our world the notion of top-down is very important, particularly for our business culture, […]


Nationwide in £500 cashback offer to FTBs

Nationwide has replaced its first-time buyer fee discounts with £500 cashback. Previously, the mutual offered a £500 discount to borrowers choosing a mortgage with a £999 fee. But from 13 May Nationwide will offer £500 cashback instead. Tomorrow, it will cut up to 65 basis points off its range of 10-year fixes for existing borrowers […]


Labour promotes Chris Leslie to shadow chancellor

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NAB outlines demerger plans

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Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]


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