LSL Property Services is to set up a mortgage brokerage called Pivotal Growth.
The new brokerage - set up with Pollen Street Capital - is to be led by LSL's chairman, Simon Embley.
He has been appointed chief executive of Pivotal Growth and will step down from his role as non-executive chair of the LSL board later this month.
LSL already operates one of the largest financial services network and advisory businesses in the UK with around 2,600 advisors.
Through its PRIMIS intermediary network, it accounted for £32.6bn of mortgage completions in 2020, representing approximately nine per cent of the total purchase and remortgage market, and in 2020 provided new protection insurance policies generating around £54m of annualised premium.
LSL is also a specialist in providing mortgage and protection advice to estate agency customers and operates two of the UK's largest new homes mortgage advice businesses.