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TODAY'S OTHER NEWS

L&G Mortgage Club posts 15% rise in sales

Legal & General Mortgage Club has posted 15% sales growth to make 2015 another record year.

It pinned its £46 billion of sales on strong partnerships with top lenders and more than 6,000 mortgage brokers.

L&G’s club was already the largest participant in the intermediated mortgage market and is now involved in one in five of all UK home loan transactions.

Stephen Smith, Legal & General’s director of housing partnerships, said the new record underlined the club's commitment to extend its reach to all parts of the UK housing market.

“The intermediary mortgage lending market delivered exceptional growth in 2015.

“Intermediaries and brokers have a unique understanding of the market and can offer a broader and better range of products than are available on the high street, which is great news for customers.”

The Club works closely with other businesses across Legal & General, including its Lifetime Mortgage business, which recently announced over £200 million of equity release completions in its first year of operation.

Legal & General Mortgage Club is part of the company’s Housing Partnerships Division, which includes Legal & General Surveying Services, whic managed over 490,000 mortgage valuations and surveys in 2015.

Its Insurance division provides a full range of protection products for homeowners, tenants and landlords.

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