LSL Property Services, which includes PRIMIS Mortgage Network and TMA Club, has confirmed an increase in its mortgage lending and announced its mortgage completions totalled £31.7bn in 2019.
Revealing its 2019 annual results, LSL’s market share was estimated to be 8.5% of the total market value of mortgage completions – up from 8.0% in 2018.
PRIMIS announced it had made a strong contribution to the overall group performance, having grown its mortgage lending by 13% from £17.5bn in 2018, to almost £20bn in 2019. The network firm also grew its protection completions by 17%, to successfully protect thousands of families across the UK.
PRIMIS chief operating officer, Toni Smith, commented: “We are delighted with the results for last year. They are a clear demonstration of how working in partnership with our firms helps them to realise and achieve their business goals.
“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.”
TMA also announced it had achieved significant growth to contribute to the group’s overall positive performance. The club grew its mortgage lending by 14.7% from £8bn in 2018, to £9.2bn in 2019.
TMA development director, Lisa Martin, added: “We are delighted to see TMA’s mortgage growth out-perform the market again in 2019, which is a great testimony to the knowledge skills and expertise within the team.
“We have also seen significant take-up of compliance support by directly authorised firms in 2019. This is a growing part of the TMA proposition along with a wide choice of technology offerings, and educational forums – all designed to help support our directly authorised firms succeed in a constantly changing market.”
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