Last week, L&G launched a second charge lender panel to allow brokers to go straight to lenders without using a master broker.
The mortgage club will now offer Twenty7Tec’s MortgageSource system to all of its members, which will help them to identify the best cost option for borrowers by comparing first and second charge loans or for the whole of the outstanding existing mortgage.
Jeremy Duncombe, director of Legal & General Mortgage Club, said Twenty7Tec were the first large technology provider in the mortgage market to deliver such an offering.
“This system will aid brokers in giving better advice to their customers by helping to establish what the best solution for their needs may be,” he said.
Intermediaries will also be able to secure documentary evidence of their research that can be passed onto clients if they request it, a requirement stipulated by the Mortgage Credit Directive.