Your-move.co.uk Limited, a member of the LSL Property Services plc (LSL) group of companies has taken a 60% stake in RSC New Homes Limited (RSC), a new build mortgage and protection firm.
The majority stake in RSC was acquired for a sum of £2.5 million.
The investment will complement LSL’s existing offering in the specialist new build market, increasing the business’ geographical coverage. The move follows the acquisition of Group First Ltd in 2016, which offers new home mortgage advice through its subsidiary, Mortgages First Ltd.
RSC works closely with builders to ensure new build customers’ mortgages progress quickly and smoothly. RSC also brokers life insurance for new build purchasers, and is an AR (appointed representative) of one of LSL’s PRIMIS mortgage networks.
James McAuley, chairman of residential development and investments at LSL, said: “Since 2013 RSC has been an appointed representative of PRIMIS mortgage network, going from strength to strength under the knowledgeable leadership of David Booth.
“We are hugely excited to be able to bring the business into the LSL group. This acquisition supports LSL’s strategy of enhancing its position as a leading mortgage distributor, and increasing long-term stability by investing in core areas of the UK’s residential property services sector.”
David Booth, CEO of RSC New Homes Limited, added: “RSC has experienced significant growth over the last few years, enjoying great success as an appointed representative in LSL’s PRIMIS mortgage network. As a business, we’re ready to take the next step and further strengthen our position in the market.
“This strategic partnership with LSL will allow us to do just that, providing further growth opportunities and a positive future for the RSC staff.”