Master of all it surveys – LSL continues to expand portfolio

The York-based group, which has around a quarter of the UK surveying industry, said it acquired Templeton LPA for an undisclosed sum.

Templeton, which has offices in Leeds and Cardiff and operates nationally, employs 36 staff, all of whom will transfer to LSL.

It specialises in providing receivership services to lenders with defaulting borrowers on buy-to-let mortgages.

David Brown, commercial director of LSL, said: "The acquisition of Templeton LPA, the acknowledged leader in its field, provides a further enhancement to the range of services we provide to our corporate clients.

"This is an important development for us, one that will be valued by our clients and business partners, and an additional revenue stream for LSL. We are pleased to welcome the team at Templeton LPA to the group."

LPA receivers are appointed by buy-to-let lenders where a borrower has defaulted on their mortgage.

The process allows tenants to remain in their homes, with the LPA receiver managing the property and collecting rent on behalf of the lender.

LSL added the acquisition further supports its aim to provide "a full and comprehensive range of residential property related services". It allows the group to provide lettings management and property disposal services to mortgage lenders across their entire product range.

Templeton becomes a wholly-owned subsidiary of First Complete but will operate independently of LSL's Corporate Client Department.

Templeton directors Ray Hugill and David Burgess will remain in their positions and the group said no jobs are at risk.

Mr Burgess said: "We are delighted to be part of the LSL Property Services group and whilst we will continue to be run independently we are confident that working together with other parts of the business where appropriate will enable Templeton to provide enhanced services to our clients."

LSL is also busy digesting the acquisition of more than 200 estate agency branches from Lloyds Banking Group, a process which is expected to take two to three years.