Santander has sold mortgage club The Mortgage Alliance (TMA) to First Complete, a subsidiary of LSL Property Services.
The value of the gross assets acquired was £250,000.
First Complete will retain the TMA brand, expanding its proposition to mortgage and insurance advisers who are directly authorised.
TMA has been in operation since 1999 and is wholly owned by Santander, having come as part of Abbey's acquisition of Scottish Provident. It currently supports 3,500 directly authorised intermediaries.
LSL Property Services has made several acquisitions in the last year, including networks Home of Choice (rebranded to First Complete) and Pink Home Loans.
It has made no secret of its ambitious growth plans, with chief executive officer Simon Embley saying that buying further businesses forms part of its strategy.
Jon Round, chief executive of First Complete, said: "TMA has a good reputation and an exceptional offering to directly authorised advisers."
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