StockMarketWire.com - Property franchisor The Property Franchise Group said it had acquired 80% of The Mortgage Genie for up to £0.49 million.

The deal included an initial payment of £0.4 million plus an estimated additional payment of around £0.09 million once the post completion process had been finalised.

The Mortgage Genie currently employed 17 people, including 10 advisers.

It was a mortgage broker operating as an authorised representative of the PRMIS mortgage network, which was owned by LSL Property Services.


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