Norwich & Peterborough (N&P) Building Society has signed a reciprocal deal with Legal & General (L&G) which gives its borrowers access to the insurer’s products, and members of the L&G Mortgage Club access to N&P’s mortgages.
Martyn Willgress, operations director at N&P, said: ‘We believe our mortgage products will be very popular with L&G’s Mortgage Club, especially our best selling tracker mortgages and the niche products we specialise in, such as self-build, environmentally friendly, lending in Spain and schemes for customers with individual needs.’
N&P will begin to market L&G’s life protection and critical illness products through its customer advisers in the autumn, although it will join the L&G MC with immediate effect.
Commenting, Kate Avery, group director, retail distribution at L&G, said: ‘This new arrangement is an endorsement by N&P of our market-leading mortgage life assurance products. We have also invested in electronic application and underwriting processes which provide acceptance decisions at the time borrowers are agreeing their mortgage.’
