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

Breaking Property News 27/10/26

Daily bite-sized proptech and property news in partnership with Proptech-X.     Who controls the infrastructure, data and intelligence that runs inside commercial buildings? By Author Andrew Stanton CEO Proptech-PR Commercial real estate owners have invested heavily in technology to improve building operations, connect tenants and monitor performance. Yet behind the growing number of systems…
Read More →
Breaking News

35% of UK homes are in postcode areas where house prices are falling

House price falls spread to a third of homes as sellers face growing competition for buyers More than a third (35 per cent) of UK homes are in postcode areas where house prices are falling, up from 12 per cent a year ago Price falls are concentrated in London and the South East where 85…
Read More →
Estate Agent Talk

Budget wishlist

Kevin Shaw, National Sales Managing Director at LRG With the Budget just days away, the property market is in a slightly better place than it was this time last year. Stamp Duty has been ruled out of this year’s changes, which removes the kind of speculation that held buyers and sellers back last autumn. The…
Read More →
Estate Agent Talk

Autumn Budget 2026: Property industry experts comment

Ahead of Wednesday’s Autumn Budget, property industry experts from across the residential sales, lettings, land and property development, mortgage finance and client money protection sectors have shared their predictions, priorities and warnings for the Chancellor. With speculation surrounding property taxation, first-time buyer support, landlord investment, inheritance tax and housebuilding, industry leaders outline what Wednesday’s announcements…
Read More →
Adding second coat of varnish floor boards
Estate Agent Talk

5 Renovations That Can Transform a Property Before It Goes on the Market

Ask a vendor what they plan to fix before listing and the answer is often too ambitious. A loft conversion won’t be finished in time, and it rarely pays back on a quick sale. The changes that actually move a listing are smaller and cheaper, and they show up in the photos. Here are five…
Read More →
Breaking News

Seven things to do if a tree damages your property

Storm Austen and Storm Boelo are bringing strong winds and heavy rain across the UK this weekend, meaning homeowners could find themselves dealing with fallen trees, damaged roofs, crushed cars and difficult conversations with neighbours about who should pay. But what should you do if a neighbour’s tree comes crashing through your roof? Will your…
Read More →