Mortgage applications passed £22bn through the club and completed business was £15.8bn up from £11.6bn in 2010.
Legal & General Mortgage Club, a subsidiary of the Legal and General network, is one of the fastest growing mortgage clubs in the UK.
The club has been one of the key innovators in bringing exclusive products back to the market since the credit crunch.
In addition, L&G said its elite group of five major intermediary firms called ‘Nouveau’ have been joined by network and mortgage advice firm Stonebridge.
The group of larger more established DA firms have signed up to a more rigorous level of compliance and risk controls.
Established members include Mortgage Advice Bureau, Alexander Hall, London & Country Mortgages, SPF Private Clients and Honister Capital.
Ben Thompson, managing director, Legal & General Mortgage Club, said: “We received terrific support from our members and our lender partners throughout 2011. It was another tough year for the sector as a whole, but the support we received has meant that these results are truly excellent in a mortgage market which grew only slightly overall. We will continue to provide new lending and the market leading programme of exclusive products as well as developing and building for the future. I would like to thank our members for these remarkable results.”
Duncan Crocker, managing director, Legal & General Network said: “We have run the Mortgage Club for seventeen years now and it remains central to our business, powering our network forward. We will continue to invest in its future and have exciting plans for the next two years as we face the challenges of the Mortgage Market Review. The Mortgage Club is a core strategic asset for Legal & General, and helps to build the strong relationships that we have right across the financial services market.”
