LSL is recruiting advisers after entering an agreement to provide mortgage and protection advice to estate agency The Property Franchise Group.
The parent company of Primis mortgage network has entered a five-year agreement with TPFG to provide digital and face-to-face advice to the latter’s network of estate agency offices.
According to LSL, TPFG franchisees can either take on their own mortgage adviser and become an appointed representative of Primis, or refer their customers to existing Primis ARs.
The group added it had begun the process of recruiting additional advisers to meet the expected volumes from referrals from house sales completed by TPFG and its franchisees.
The service is anticipated to be fully operational by the end of the year.
David Stewart, chief executive of LSL, said: “I am delighted we have been selected by The Property Franchise Group 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.”
Gareth Samples, chief executive of TPFG, said: “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.”
Samples added: “Together we will develop a new digital mortgage journey that really meets the needs of our customers and our franchisees.”
The agreement comes after LSL announced it had entered a £200m joint venture with a private equity investor to establish a new mortgage brokerage.
chloe.cheung@ft.com
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