LSL Property Services acquires The Loan Partnership Limited through a joint venture
Scott P. Arroyo
2 min read
A joint venture led by LSL Property Services and investors Pollen Street Capital has acquired The Loan Partnership Limited.
The deal, which is subject to the approval of the Financial Conduct Authority, will see the Hemel Hempstead-based loan broker and mortgage advisory firm acquired by Privotal Growth Limited.
The Loan Partnership (TLP) was established in 2013 and focuses on providing mortgage advice for second mortgages and bridge financing.
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Pivotal Growth was formed in April 2021 with private equity specialists Pollen Street Capital to buy and build a national mortgage broker powered “by cutting-edge technology, top-notch regulatory compliance and exemplary customer service”.
It announced late last year that it had at least £200million in equity and debt to fund acquisitions.
In an investor update, LSL said: “The acquisition of TLP is Pivotal Growth’s third acquisition following the purchases of Lifetime Finance Group and Grange Mortgage and Protection Services, and Pivotal Growth’s management team is in active discussion with a number of other brokers who he believes would benefit significantly from his participation in Pivotal Growth and we expect to confirm further agreements in due course.”
LSL – which includes the Reeds Rains and Your Move brands – is one of the largest mortgage advice and services groups in the country, doing around £41billion in mortgages in 2021.
It also provides surveying and valuation services to major UK lenders and operates a network of 225 owned and 128 franchise estate agency branches.
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