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LSL mortgage completions rise to £31.7bn

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  • 10/03/2020
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LSL mortgage completions rise to £31.7bn
Mortgages completed through LSL’s financial services firms rose by nine per cent from £29bn to £31.7bn the group reported in its 2019 results.

 

The mortgages were completed through Primis Mortgage Network, Embrace Financial Services, LSL’s owned estate agency financial services arm, and mortgage club TMA.

LSL’s market share of mortgage completions is estimated to be 8.5 per cent, increasing slightly from eight per cent the previous year.

Broken down, mortgages completed through the firm’s directly authorised mortgage club TMA rose by 14.7 per cent from £8bn in 2018 to £9.2bn in 2019.

Mortgage lending completed through network Primis increased by 13 per cent from £17.5bn in 2018 to nearly £20bn in 2019.

The network also grew protection completions by 17 per cent.

The number of appointed representative firms belonging to Primis Mortgage Network increased from 841 to 878 year on year while adviser numbers rose from 2,321 to 2,392.

Toni Smith, chief operating officer, Primis, said: “Increasing market share is key to our overall plan, likewise, the delivery of appropriate customer outcomes is also a critical measure of our success.

“We are therefore delighted that our independently measured, customer feedback on the service delivered by our advisers reached a new high in 2019. This coupled with the growth in our business, in a flat market last year, provides a strong platform for further success in 2020.”

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