It is believed that both the Home of Choice board and the network’s bank have chosen LSL as the preferred bidder.
LSL is the parent company of Your Move, Reeds Rains and Intercounty.
Money Marketing also understands that the board did not support the bid from The Money Group’s managing director, Tony Murtagh, as they did not feel it was supportive to both HoC’s staff and the company.
In a statement released today, HoC chief executive Gerry O’Brien says the company is setting up a series of roadshows, beginning Wednesday, which aim to give ARs information about the new owner of HoC, fees and authorisations.
The company has informed all of its their-party relationship partners over the weekend over the deal.
In the statement, O’Brien 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.”