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LSL Property Services acquires stake in Direct Life Quote; acquires Mortgage Gym
StockMarketWire.com
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Mortgage advice company LSL Property Services said it had acquired a 60% stake in Direct Life Quote for £1.8 million, and Mortgage Gym for £2.4 million, as part of its digital strategy to drive growth in financial services.
Direct Life Quote Holdings principal subsidiary, Direct Life & Pension Services, had developed an advanced technology platform that offered digital protection insurance product recommendations to intermediaries and direct to retail customers via an end-to-end online service through third party aggregators, the company said.
Mortgage Gym had developed an innovative digital platform that confirmed mortgage eligibility within 60 seconds, matching borrowers with lenders.
Mortgage Gym would strengthen the technology support available to 'LSL and PRIMIS mortgage advisors, increasing the efficiency of users and help to pre-qualify leads, whilst increasing the capability to generate leads from third party sources,' it added.
'These acquisitions will strengthen LSL's digital capability and help to drive increased market share and profitability across its PRIMIS intermediary network, Embrace Financial Services, its specialist provider of mortgage and protection advice to estate agency customers, and its RSC and Group First subsidiaries,' the company said.
At 9:42am: (LON:LSL) LSL Property Services PLC share price was 0p at 214p
Story provided by StockMarketWire.com
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