Q: If you’re keen to be in the top thee of each sector you occupy – is the Pink Home Loans purchase likely to give you this and what market advantage will the buy up give your brokers?
A: The purchase of Pink Home Loans will make LSL Property Services one of the top three mortgage and insurance providers. The purchase gives Pink increased financial stability and the platform to grow. Businesses with larger scale will be able to deliver more value to their members through closer links and increased purchasing power with lenders and product providers.
Q: Will Pink continue to operate as an independent brand? How long for?
Yes, Pink will continue to operate as an independent brand with no other plans to have it any other way
Q: What characteristics does Pink have making it a solid acquisition?
Pink is a good company with a strong management team, a good network of loyal brokers, a great brand and good reputation. Through its Mortgage Club Pink will also give LSL a sound platform to cater for advisers who prefer to be Directly Authorised.
Q: On the ground, what changes should Pink Home Loan AR brokers expect to see in business practice and procedure over the next 12 months?
In the short term there will be very little change as the business is already working well. In the medium term LSL is looking to invest in Pink in a way that will bring benefits to everyone who is a part of the network.
Q: Why is consolidation good for the market? Isn’t choice better for the consumer?
LSL buying Pink will not reduce choice as Pink will continue to be run as a stand-alone network.
