Just weeks after failing to gain Liberal Party pre-selection in the Federal seat of Hume, Mittagong accountant, Rick Mandelson has severed his long-standing ties with the party.

Mr Mandelson received only one vote in last month's (May) pre-selection which went to Rhodes Scholar , Angus Taylor who had the backing of retiring MP Alby Schultz.

Mr Mandelson says that he resigned from the Liberal Party last week because he is disillusioned with how it is being managed.

While ruling out standing for local council, he has told 2STs Grace Farah that he could still contest the seat of Hume as an independent