LSL Property Services has agreed a five-year deal to provide digital and face-to-face mortgage and protection advice to The Property Franchise Group.
The Property Franchise Group now has over 430 physical office locations, conducts the sale of around 23,000 properties per annum and manages in excess of 73,000 tenanted properties.
TPFG franchisees 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.
LSL will be deploying a service which combines face-to-face advisers with a central team providing video and telephone advice, all supported by Mortgage Gym technology, following LSL’s purchase of this technology on 11 February 2021.
David Stewart, group CEO of LSL, said: “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 also provides 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 plc. I look forward to providing more details when we release our Preliminary Results tomorrow.”
Gareth Samples, group CEO of The Property Franchise Group, added: “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.”