LSL finds a home for The Mortgage Alliance

ESTATE agency and surveying group LSL Property Services has made a further move in its acquisition strategy by buying the mortgage distribution business of Santander UK.

LSL, which has moved its registered office from York to Newcastle, has made the purchase of The Mortgage Alliance through its subsidiary First Complete.

The value of the gross assets acquired was £250,000.

The Mortgage Alliance is a ‘mortgage club’ in operation since 1999 which supports more than 3,500 directly authorised mortgage intermediaries.

The group offers its members access to a range of products and services from its business partners.

Announcing LSL’s annual results in March, its chairman Roger Matthews said the group was “well placed to grow both organically and through further acquisitions in the current market”.

LSL bought Halifax Estate Agencies from Lloyds Banking Group in January 2010.

This was followed by the acquisition of mortgage network Home of Choice, now First Complete, in May 2010 and Pink Home Loans for £1.6m last November.