LSL Property Services snaps up mortgage network in £12.9m deal

Property services group LSL has boosted its financial services network business after snapping up TenetLime Ltd in a £12.9m deal.
The Newcastle based business has acquired the mortgage network from Tenet Limited, a subsidiary of Tenet Group, in a transaction that adds 278 advisers working within 157 firms.
TenetLime operates a network providing services to 231 mortgage and protection advisers, operating within 133 representative firms. Its advisers arranged around £3.9bn of mortgages in 2022.
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The transaction could also see TenetLime recruit 47 mortgage and protection advisers operating within 24 appointed representative firms, that are currently members of TenetConnect Ltd and TenetConnect Services Ltd, that are expected to transfer before the deal is completed.
The £12.9m deal includes an initial payment of up to £5.6m and a fur …