LSL Property Services has reported steady first-half results, with its Financial Services division continuing to act as the engine of the group’s performance.
For the six months to 30 June 2025 the group reported revenue of £89.7m (up 5%) and underlying operating profit of £14.8m, with an underlying margin held at 17%. LSL’s Financial Services operation – which comprises more than 2,600 advisers and represents roughly 11% of the UK purchase and remortgage market – continues to be central to the group’s strategy.
Key initiatives for advisers include the roll-out of a new CRM across Financial Services intended to improve adviser productivity and case handling.
PRIMIS picked up Mortgage Network of the Year at the 2025 Moneyfacts Awards, and TenetLime (acquired last year) has delivered a strong trading performance, adding scale to LSL’s adviser footprint.
DISTRIBUTION AND SCALE
LSL’s Pivotal Growth JV is now a major consolidation vehicle in the intermediary market. The JV has completed 19 bolt-on acquisitions to date and reports a strong M&A pipeline, delivering improved profitability as it scales.
Pivotal Growth’s activity is supporting franchisees with targeted bolt-on letting acquisitions and is expected to drive further distribution scale and cross-sell opportunities across LSL’s platform.
Adam Castleton (main picture), LSL’s new group chief executive, said: “We made positive progress in the first half of 2025, delivering revenue and profit growth, while maintaining operating margin at its highest level for 15 years.
“LSL is a well-positioned business, as our three divisions add value at all key points in the UK’s property and mortgage lending ecosystem. My focus is on empowering our teams, capturing further operational improvements in each division, and seizing the opportunity to leverage more of the Group’s collective strengths. Combined, these should deliver enhanced margins and greater returns for shareholders.”
REMORTGAGE ACTIVITY UP
The group also reported that July was its strongest refinancing month of the year to date, with mortgage pipelines above historic levels. It expects refinancing activity to increase further into the second half of 2025, providing a healthy flow of business for its networks and brokers.
With Financial Services now the largest division of the group, Castleton said there was significant scope for growth by combining LSL’s scale with digital investment and adviser support
He added: “Our capital-light platform gives us the ability to innovate quickly while keeping advisers at the centre of the proposition. The opportunity is to ensure our networks and directly authorised brokers have the tools they need to thrive in a fast-changing market.”
