LSL Property Services set to be named HOC buyer

A source close to the deal has said LSL Property Services, owner of estate agents Your Move and surveyors e.surv, has been identified by both the Home of Choice board and its bank as the preferred bidder, subject to FSA approval.

Home of Choice has confirmed it will begin a series of roadshows across the country to introduce appointed representatives to the new owner and explain what is happening with their commissions and proc fees.

Gerry O'Brien, chief executive of Home of Choice, said: "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."