LSL has extended its existing £100m banking facility until May 2020. This replaces the existing maturity date of August 2017.

The extended facility comprises a committed £100m revolving credit facility and incorporates more favourable terms for LSL, the firm said in an announcement to the stock market.

The facility continues to be provided by the existing syndicate of four banks: Barclays, HSBC, Lloyds and Santander.

Ian Crabb, LSL group CEO, said: “We are pleased with the continued support shown by our banking partners.

“The extended facility supports LSL’s strategy of delivering long-term shareholder value by building market-leading positions in residential property services through organic growth and selective acquisitions.”