Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Pivotal Acquires Wigan-Based Mortgage Firm LR Finance

Pivotal has acquired LR Finance, a mortgage and protection firm based in Wigan. The acquisition is part of Pivotal’s ongoing strategy to expand its mortgage and protection advice services through a buy-and-build approach.

LR Finance was established in 1996 and is led by managing director Elanor Hill, who is supported by an adviser and admin team. According to Pivotal, LR Finance has built a large client bank and enjoys a strong local reputation, making it a suitable addition to the group.

Since its launch in 2021, Pivotal has acquired 26 firms. The company stated that the acquisition of LR Finance aligns with its aim to grow its national footprint in the mortgage and protection sector.

For UK letting agents and inventory clerks, the consolidation of mortgage and protection firms like LR Finance under larger groups such as Pivotal may influence the range of financial products and advice available to landlords and tenants. The continued expansion of Pivotal’s network could also impact local relationships and service delivery in the property sector.