Your Move owner splashes out again

Oct. 12, 2005
Lending Solutions, the owner of the Your Move estate agency chain, has bought Reeds Rains, a rival operator, for £22 million. Lending Solutions bought Your Move and e.surv, the property valuer, from Norwich Union and has bought the 130 network branch Reed Rains to capitalise on the consolidation in the industry expected to result from the government’s home information pack initiative. From January 2007 house sellers will be required to provide potential buyers with a pack including property valuation and a structural survey. Sellers will look to estate agents to help put them together. The chief executive of Lending Solutions, Simon Embley, said: “The home information pack creates tremendous potential for estate agents, surveyors and conveyancers to work together.” He added: “The acquisition will give Reeds Rains much greater capacity to produce home information packs.” The Times

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