Two of UK’s largest agency groups in mortgage link-up

The Property Franchise Group and LSL Property Services are linking up mortgage and related activity.

This agreement means that LSL will be providing digital and face-to-face mortgage and protection advice to the customers of TPFG and TPFG's franchisees.

Following its takeover of Hunters, TPFG now has over 430 physical office locations, conducts the sale of circa 23,000 properties annually and manages in excess of 73,000 tenanted properties.

This new deal will allow franchisees to augment their income generation potential: they will be provided with a range of options via LSL's PRIMIS Mortgage Network. 

Franchisees will be offered the opportunity either to take on their own mortgage adviser and become an appointed representative of PRIMIS, or to refer their customers to existing PRIMIS appointed representatives, including LSL's in-house mortgage brokers. The agreement is for a minimum of a five year period.

LSL is already one of the largest providers of services to mortgage intermediaries and mortgage and protection advice to estate agency customers completing around £32.6 billion of mortgages in 2020.  

It currently represents around nine per cent of the total purchase and remortgage market with over 2,600 advisers.

Gareth Samples, group chief executive officer of The Property Franchise Group, says: "We have publicly committed to growing the financial services capability available to our network and LSL has emerged quickly as the best option for our franchisees. I am delighted that we will now be able to help them to generate additional income, in partnership with LSL. 

"Together we will develop a new digital mortgage journey that really meets the needs of our customers and our franchisees. I believe LSL has an unparalleled understanding of how to provide high quality mortgage and protection advice to estate agency customers and I look forward to building a market-leading digital and face-to-face service to the significant benefit of both groups".

And David Stewart, group chief executive officer of LSL, adds: “I am delighted we have been selected by The Property Franchise Group plc as the preferred long-term provider of mortgage and protection advice. 

"We have previously set out our ambition to accelerate the growth in our Financial Services Division including PRIMIS Mortgage Network and this agreement underlines the scale of this opportunity. 

"It is also early validation of our decision in February 2021 to purchase Mortgage Gym, whose technology gives us a clear competitive advantage and helped win the support of The Property Franchise Group”.