Newcastle's LSL Property Services has struck a deal that will see the business provide face-to-face mortgage advice to customers at a rival estate agency group.
LSL has agreed to provide digital and face-to-face mortgage and protection advice to customers at The Property Franchise Group's (TPFG) network of more than 430 offices.
The Property Franchise Group is described as the 海角视频's largest property franchisor operator and sells around 23,000 homes per year and manages 73,000 tenants. The group runs a number of estate agent brands including Ellis & Co, EweMove, Parkers, and the recently acquired Hunters Property Ltd.
LSL also owns a number of estate agent brands, including Your Move, Reeds Rains, and Marsh & Parsons.
The new deal will see LSL provide advice to customers of TPFG and those of its franchisees for the next five years. The franchisees will also be given access to a range of options through LSL's PRIMIS Mortgage Network.
LSL has taken major steps to grow its financial services division and earlier this week revealed it was launching a new mortgage brokerage business, called Pivotal Growth.
After agreeing to the deal with TPFG, LSL has now begun the process of recruiting additional advisers to meet the new demand.
David Stewart, group chief executive officer 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.
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"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."
Much of LSL's growth in the financial advice market comes after it acquired the Mortgage Gym in February. The company has developed a digital platform that confirms whether a customer is eligible for a mortgage within 60 seconds and matches them to potential lenders.
The technology also improves the productivity of advisers through its customer relationship management system and allows advisers to quickly find out how much customers can borrow and how much they need to budget.
Commenting on the new deal with LSL, TPFG's CEO Gareth Samples 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. 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."