The board of directors of London & Country Mortgages have responded to speculation that it is to be sold or made available via an IPO.

L&C confirmed that, following receipt of certain expressions of interest, it has appointed Fenchurch to advise on a range of strategic options for the business including a potential sale or initial public offering.

The statement added: “There is no certainty that this review will lead to a transaction and L&C will also consider the benefits of continued growth of the business under its current ownership.  In evaluating its options,  L&C will have regard to the best interests of all its stakeholders, including its customers, commercial partners, employees and shareholders.”

Last year the business reported pre-tax profits of £8.5m on revenues of £35.2m.