LSL Property Services, parent company to a number of brands including Your Move, Reeds Rains and Marsh & Parsons, has announced a major contract with Lloyds Bank.

It involves LSL’s residential surveying and valuation arm, e.suv, which has won a “material” contract to supply services to Lloyds.

Lloyds has historically carried out its own surveying and valuation services in-house.

Under the deal, 200 surveyors plus back-office employees will transfer to LSL. Allowing for a transition period, the service will be fully operational during the final quarter of this year.

A statement to the stock market by LSL said that the contract will run for five years.

Ian Crabb, CEO, said: “This contract award demonstrates the market leading proposition that e.surv is able to offer its customers and reflects well on the technology investment which e.surv has made to enhance its proposition through the development of a market-leading surveying IT platform.

“I would also like to take this opportunity to welcome our new colleagues into the LSL Group.”