LSL Property Services stated brokers throughout its community lifted whole income by 3% to £22.6m, in the primary six months of the yr, including that “rate of interest uncertainty continues to suppress refinancing volumes”.
However, the listed property group — which holds mortgage golf equipment Primis, TMA and Linear in its monetary companies unit – stated that adviser sales throughout the entire of the UK residence loans market have been round 5% greater.
Its monetary companies unit turned in a statutory working revenue down 17% to £2.4m, in contrast to a yr in the past, the group stated in a buying and selling assertion to the top of June.
Its variety of community corporations fell by 5% to 1,084 over the interval, because it lower numbers in safety.
Network safety income fell by 12% to £6.6m, “reflecting the affect of strategic repositioning away from protection-only brokers”.
The group’s monetary companies arm additionally holds its Pivotal Growth mortgage and safety three way partnership, established in 2021 with asset supervisor Pollen Street.
It stated Pivotal Growth now has over 500 advisers, “giving it important mass to leverage its scale to appeal to offers and drive income synergies and profitability”.
The three way partnership has purchased 19 companies since launch, together with John Charcol and The Buy to Let Broker. This additionally contains two acquisitions accomplished in the third quarter of this yr.
The group stated its share of revenue Pivotal Growth in the interval was round £100,000, up from a £400,000 loss a yr in the past.
The monetary companies unit posted sales just about unchanged at £23.5m over the interval.
LSL chief government Adam Castleton, who took over in May, stated: “As anticipated, the modifications to stamp responsibility on 1 April 2025 led to a spike in housing transactions, ensuing in an enchancment in market exercise, whereas rate of interest uncertainty continued to suppress refinancing volumes, which have been 10% decrease than the prior yr.
“We held our sturdy share in every of our markets and are well-positioned to reap the benefits of the elevated refinancing exercise anticipated in the second quarter of the yr.
Overall, the group, which additionally contains surveying (which holds e.surv) and property company arms, posted a pre-tax revenue down 18% at £11.3m on income up 5% at £89.7m from a yr in the past.
