LSL buys mortgage distribution business

ESTATE agency and surveying group LSL Property Services has bought the mortgage distribution business of Santander UK.

LSL, which has moved its registered office from York to Newcastle, has made the purchase of The Mortgage Alliance through its subsidiary First Complete.

The value of the gross assets acquired was £250,000.

The Mortgage Alliance supports more than 3,500 directly authorised mortgage intermediaries and offers its members access to a range of products and services from its business partners.

LSL bought Halifax Estate Agencies from Lloyds Banking Group in January 2010 followed by mortgage network Home of Choice, now First Complete, in May 2010 and Pink Home Loans last November.