Jon Round, managing director of First Complete, said: “We are reviewing these relationships at the moment and are in discussions with Openwork. There is no set timeline on when we’ll decide how Reeds Rains and Linear will be regulated – be it under First Complete or Openwork - but we expect these discussions to be ongoing for the coming weeks and months.
And he told Mortgage Introducer:“Both Reeds Rains and Linear have had a long and successful relationship with Openwork and the decision about their future needs to be made with care. It has to be right for both individual businesses and how they fit as part of LSL.
"But it is right that we review this now, and we’ve started that process.”
Openwork could not be reached for comment.
