Broadgate is also the administrative office of SPML.
LMC has moved over the weekend from its Marble Arch office and will now be entirely based in Broadgate.
For Preferred the move from Haywards Heath will be conducted in phases, starting Monday 23 October. The migration of the mortgage processing department is expected to be completed by mid November. Intermediaries will be informed of new contact details as and when their team has been relocated.
As announced previously, all loan operations of the Lehman Brothers’ UK mortgage businesses - LMC, Preferred and SPML - will be combined and reorganised to reflect a new group administrative structure, but will retain the underwriting philosophies of the different brands. All three companies will retain their own sales teams and product ranges.
Simon Hinshelwood, chief operating officer at Lehman Brothers’ UK mortgage businesses, commented: “LMC’s and Preferred’s relocation to Broadgate is part of our strategy to maximise the efficiencies of all three mortgage businesses. This will result in better offerings to the marketplace - including more competitive products - and we expect to see strong continued growth at LMC, Preferred and SPML as a result.”
It will be business as usual at all three brands throughout the migration process.
