LSL Property Services favourite to buy HoC

4 May 2010 | By Natalie Thomas

Following the news this morning that The Money Group’s Tony Murtagh has made a bid for Home of Choice, a source close to the deal says the network and the bank’s preferred bidder is LSL Property Services and the deal is likely to be completed by tomorrow.

LSL is the parent company of Your Move, Reeds Rains and Intercounty.

In January Lloyds Banking Group sold its Halifax Estate Agencies for £1 to LSL Property.

Gerry O’Brien, chief executive of Home of Choice, says: “Tomorrow I expect to be telling our brokers about the new listed owner who will bring financial security to the network.

“Their questions about backdated fees, commission and pipeline will also be answered.

“The business is working furiously behind the scenes to ensure that brokers are properly supported during these challenging times and I thank everyone – staff, brokers and third parties - who are solidly behind the continuation of this great business.”

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Readers' comments (37)

tony murtagh | 4 May 2010 11:22 am
The directors must protect and do what is best for the "creditors" whilst they are in an insovent situation.The Murtagh bid is the only bid that protects all the creditors....If you are a network member or a creditor you must urge the board NOT to vote for the lsl bid if it involves administration.
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emma tempest | 4 May 2010 11:37 am
Thats great news! I never doubted the board of HOC would have something up their sleeves.
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Anonymous | 4 May 2010 11:39 am
if HOC goes into admininstration and is then bought, doesnt that mean all our pipeline commission is lost?
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Anonymous | 4 May 2010 11:49 am
Will HOC board confirm urgently if the LSL bids involves administration ?..if so what happens to the network members permissions ?
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HOC AR | 4 May 2010 11:53 am
I would think so as we would be creditors too. It would also mean that they are in breach of our contract due to restricting trade which would open up a few other opportunities I suppose.
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Anonymous | 4 May 2010 12:00 pm
I would suggest to all to note that the initial comment, was made by potentially the party that has lost out, and smacks of scaremongering. Surely HOC will be prevented from saying too much due to non disclosure agreements, and as the potential new owners ara a PLC, they will probably handle the announcement to the city first.
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Anonymous | 4 May 2010 12:09 pm
If HOC go into administration do they get a 10-point penalty?
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tony murtagh | 4 May 2010 12:13 pm
Tony Murtagh mobile=07786 437796...no scaremongering...the truth as i know it..please call.
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Anonymous | 4 May 2010 12:14 pm
We have been told this morning that the deal is done and O/S commissions and pipeline business will be paid, this was also said last Friday? We are still awaiting confirmation direct of this arrangement rather than through the media. We were not however told of any administration arrangements..... is there yet another sting in the Tail?
I am an HOC AR.
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Sabrina Davaloe | 4 May 2010 12:22 pm
We haven't received any statement from HOC regarding the roadshows or potential purchase, and yet again we're having to learn everything from the media. HOC seriosuly need to sort out their communication with their AR's!
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