Lending Solutions was founded last July when Simon Embley led the £42million management buyout of e-surv and Your Move from Norwich Union that was backed by Barclays Private Equity.
homefast will continue to operate under its own brand and management in St Albans, providing residential conveyancing and remortgaging services to both the B2B and direct-to-consumer marketplaces, in addition to Your Move estate agents.
John Brian, Director of Conveyancing Services at homefast, said:
“This deal is precisely what we have been looking for because it enables us to retain our independence whilst being part of the industry’s third largest operation. The purchase by Lending Solutions means a further period of rapid growth with an immediate need to recruit up to 30 people into our St Albans operation. homefast will continue to handle conveyancing and re-mortgage work for a wide range of introducers.”
Lending Solutions is now able to offer a complete service for lenders and customers to include estate agency, valuations, conveyancing, surveys and remortgaging. Simon Embley, Group Chief Executive, commented:
“Our group of independent companies is now well positioned to be a major provider of Home Information Packs to the industry when they become compulsory in January 2007.
“The purchase of the majority shareholding of homefast means that we now can greatly expand that operation and be in the best position to offer Home Information Packs to our own and other estate agents in 2007.”
Lending Solutions Ltd have announced that they will be a provider of Home Information Packs when they become compulsory in 2007 and this acquisition will more easily enable them to provide all components of the pack in-house.