Although the lender has not confirmed the rumour, it is also reluctant to deny the speculation.
One source told Mortgage Introducer: "We were told LMC is putting the white flag up and is going to sell. There has been some speculation that the company is struggling."
But Robert Own, chief executive of LMC, said: "We don't comment on market rumour or speculation. LMC is going from strength to strength and is enjoying a successful year. LMC has recently broken the £1bn barrier in terms of total mortgage and loan assets since its launch in February 2001and I expect this positive trend to continue."
He added: "LMC was established as a specialist secured personal loans provider and in the first quarter of 2002 expanded by launching a first mortgage division. We currently deal with a select group of brokers who jointly control about 85 per cent of the market for secured personal loans as well as over 80 approved first charge packagers."
