First Complete Limited, a subsidiary of has LSL Property Services plc, has acquired The Mortgage Alliance (TMA) from Santander UK plc.

The value of the gross assets acquired was £250,000.

First Complete will retain The Mortgage Alliance brand expanding its proposition to mortgage and insurance advisers who are directly authorised. LSL and First Complete plan to improve TMA’s offering over the coming months.

The Mortgage Alliance, which was established in 1999, supports over 3,500 directly authorised mortgage advisers.

Jon Round, chief executive of First Complete, said: “The Mortgage Alliance is a mortgage club with a good reputation which has an exceptional offering to directly authorised advisers.