LSL Lsl Property Services Plc

 

TIDMLSL 
 
RNS Number : 5829L 
LSL Property Services 
07 May 2010 
 

+-----------+--------+ 
| For       |  7 May | 
| Immediate |   2010 | 
| Release   |        | 
+-----------+--------+ 
 
                           LSL Property Services plc 
 
                  LSL PROPERTY SERVICES ACQUIRES HOME OF CHOICE 
 
LSL Property Services Plc (the 'Group') is pleased to announce the acquisition 
of the assets of Home of Choice Limited ('HoC') for a cash consideration of 
GBP1.5 million. The business is being acquired from administrators and is not 
expected to have a material impact on the Group's earnings line in 2010. 
HoC is a fast growing multi-tied specialist mortgage network provider to 
approximately 500 self employed mortgage advisers with extensive financial 
services expertise and knowledge of the mortgage market. Launched in 2005, HoC 
offers its network of mortgage advisers a choice of lenders from its mortgage 
panel, as well as unique added-value services to professional mortgage 
intermediaries, including class leading software and systems designed for 
brokers. 
In 2009, HoC was named 'Network of the Year' for the second year running by 
members of the largest independent online community of mortgage and financial 
intermediaries. 
Commenting on the acquisition, Simon Embley, Chief Executive Officer said: 
"HoC is an acknowledged leader in its field. Strategically, this acquisition 
will strengthen our relationships with key lending clients and increase lending 
on an aggregated basis to circa GBP4bn per annum, thereby providing a 
significant opportunity to leverage our Financial Services assets across the 
Group." 
 
For further information please contact: 
+----------------+----------------+ 
| LSL            |  01904  715324 | 
| Property       |                | 
| Services       |                | 
| plc            |                | 
+----------------+----------------+ 
| Simon          |                | 
| Embley,        |                | 
| Group          |                | 
| Chief          |                | 
| Executive      |                | 
| Officer        |                | 
+----------------+----------------+ 
| Dean           |                | 
| Fielding,      |                | 
| Group          |                | 
| Finance        |                | 
| Director       |                | 
+----------------+----------------+ 
| Buchanan       | 020 7466 5000  | 
| Communications |                | 
+----------------+----------------+ 
| Richard        |                | 
| Darby,         |                | 
| Nicola         |                | 
| Cronk,         |                | 
| Catherine      |                | 
| Breen          |                | 
+----------------+----------------+ 
 
Notes to Editors: 
LSL Property Services plc is one of the leading residential property services 
companies in the UK and provides a broad range of services to its clients who 
are principally mortgage lenders, as well as buyers and sellers of residential 
properties. For further information, please visit our website: www.lslps.co.uk. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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