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

Why Living Near London’s Top Schools Costs a Fortune

Homes near London’s top private schools command premiums of up to 77%   The latest research from London lettings and estate agent, Benham and Reeves, has revealed that homes located close to some of the capital’s highest-ranking private schools command substantial premiums, with property values sitting as much as 77% above the wider local authority average.…
Read More →
Breaking News

Back to School: What It Costs to Live Near Top Secondaries

The latest research by Yopa has revealed that homebuyers face paying an average premium of more than £40,000 to live within reach of one of the nation’s top state secondary schools, with the premium climbing as high as £275,000 in the most expensive location. Yopa analysed current house prices across the postcode districts home to…
Read More →
Breaking News

24% house price premium in National Parks

6% premium for homes within 5km of a National Park 14% premium for properties located in a National Landscape New Forest continues to be the most expensive National Park to live in Surrey Hills remains the most expensive National Landscape in which to purchase a property Commenting on the figures, Andrew Harvey, Nationwide’s Senior Economist,…
Read More →
to let sign 2025
Breaking News

Thames Valley Rents Surge to £1,448 – 6% Above UK Average

Average rents in Thames Valley reach £1,448 pcm, nearly 6% above the UK average, new report reveals Rents in Thames Valley reach £1,448 pcm, nearly 6% above the UK average of £1,369 Wokingham and Reading highlighted as key areas of interest for renters and investors Renters in Thames Valley are more likely to be older than anywhere else in…
Read More →
Breaking News

July’s HMRC Property Transactions Report

Headline statistics Headline statistics from the latest transactions data include: the provisional seasonally adjusted estimate of the number of UK residential transactions in July 2026 is 96,710, 1% lower than July 2025 and 2% lower than June 2026 the provisional non-seasonally adjusted estimate of the number of UK residential transactions in July 2026 is 106,620, 5% higher than July…
Read More →
Breaking News

Almost half of homesellers hit by broken chains

The latest research from House Buyer Bureau has revealed that almost half of home sellers who form part of a property chain have seen that chain break during the sales process, with buyers changing their minds and pulling out by far the most common reason why.   House Buyer Bureau commissioned an independent survey of 1,072…
Read More →