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Rumours of internal turmoil at Cobalt

Rumours abound that serious cracks are beginning to appear at London-based mortgage broker Cobalt Capital.

A source has revealed that there is a major split between the senior management team and some of the business owners.

Andrew Montlake, part of the senior management team reported to be on the verge of walking out of the company, refused to be drawn on the subject.

He told Mortgage Strategy: “Internal matters are exactly that, internal. If other people wish to discuss our business outside and put their own spin on things, that is up to them.”

It is unclear exactly what the issues surrounding the potential break-up are, but Mortgage Strategy understands that matters could come to a head very quickly after weeks of stalemate.

Cobalt has grown rapidly over the last few years and has become one of London’s’ leading mortgage intermediation brands.

The management team is highly regarded within the industry, and there has been intense speculation about what the team would do in the future.

If key management were to leave sources claim that this would cast serious doubts on the future of the company.

One source says: “Coming so soon after the closure of Hamptons Mortgages, it would be a major blow for the London broker market.”

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