LSL pay £9.1 Million for a percentage of Colchester based Mortgage Company.

February 22, 2016

I spent a leisurely afternoon last Friday, after the news was made public, with one of the smaller share holders of the very recent LSL deal to purchase 65% of the Colchester based Mortgage First business, and I rejoice with them in the rewards that sticking at a business and within a industry sector for a number of years really does pay off.

LSL property services, has been reported to have taken a 65% interest in the company Group First Limited which is a local business to us in Colchester offering mortgages and protection advice for mostly news homes. A total of £9.1 million in cash will be paid initially with a further amount to complete the purchase in 2017.

Paul Maston, CEO of Group First Limited, will remain as CEO (he founded the business in 1988). There were other share holders involved during the company’s journey to it’s current position.

Ian Crabb who is the LSL Group CEO, is quoted as saying: “This investment supports LSL’s strategy to grow long term profitability in the provision of residential property services in the UK, by identifying value enhancing opportunities. Further, the investment strengthens LSL’s relationships with its key house builder clients.”

Report on London Stock Exchange website can be viewed here.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Breaking News

Mortgage approvals down 11% in May

The latest mortgage approval data from the Bank of England show that: –   Mortgage approvals on house purchases for May sat at 56,205 down (-14.9%) from 66,034 seen in April. Approvals are down (-10.8%) when compared to the 62,980 seen in May 2025. This annual decline was expected due to wider political and economic uncertainty;…
Read More →
Breaking News

Money and Credit – May 2026

Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals decreased to £2.9 billion in May, from £4.4 billion…
Read More →
Breaking News

More than 5,300 land listings currently available in Britain

The latest research from LandSale, the property portal dedicated to land and rural property, has revealed that there are an estimated 5,373 land listings currently available across Great Britain, with almost a quarter, 24.9%, listed in the past 30 days. The analysis examined all land-only listings currently being marketed across Great Britain. LandSale assessed the…
Read More →
Breaking News

Build to rent completions rise 11.7%

New research from Zero Deposit reveals that the UK’s build-to-rent sector has continued its strong growth trajectory in 2026, with both delivery and investment volumes increasing year on year as demand for professionally managed rental accommodation remains robust. As the sector expands and operators manage larger portfolios of high-value rental homes, protecting rental income is becoming…
Read More →
Estate Agent Talk

Has the doer-upper lost its shine?

First-time buyers, once the doer-upper’s natural market, have changed their priorities – and what they want now is certainty. For decades, the doer-upper held a particular place in British life: the tired house bought cheap, done up over years of weekends and sold on as the home it always promised to be. It was a…
Read More →
Crowded beaches - Clacton-on-Sea in Essex
Breaking News

1 in 7 consider moving home to manage cooling costs in hotter weather

Two in five adults (40 per cent) say they would prefer to invest in home improvements to reduce overheating from the outset, rather than rely on cooling devices Three in 10 (30 per cent) are concerned about the impact of using electricity for cooling on their energy bills, while over four in 10 (44 per…
Read More →