LSL Property Services has agreed the £1.59m acquisition of mortgage and insurance distributor Advance Mortgage Funding Ltd, trading as Pink Home Loans.
The buy up from Skipton Building Society includes Pink's subsidiary business BDS Mortgage Group with the deal still subject to approval from the FSA. LSL has bought the entire share capital in AMF for a purchase price of £1.59 million which LSL is funding from existing banking facilities. Pink will be run independently from LSL's other financial services businesses and operate as a standalone network. The management will report into the LSL executive team but retain its existing management team run under Managing director, David Copland's leadership. LSL said the move marks a natur...
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