The deal makes L&G the broker’s latest distribution partner, with all the “major networks” set to be tied in by the end of January.
Largemortgageloans.com said it has relationships with 44 private and high street banks and building societies enabling it to offer tailored, often asset-based lending solutions for borrowers.
Martyn Smith, head of mortgage products for Legal & General, said: “Large mortgage loans can often be complex and difficult. This service ensures that advisers can be confident they are getting the very best mortgage arrangement for their clients from specialists in this market who have access to a range of lenders including private banks with the ability and appetite to lend at the higher levels. This is another valuable benefit to our Network Proposition.”
Paul Welch, managing director of Largemortgageloans.com said the key to operating in this market is being creative and the firm’s average mortgage size is £1.1m.
Welch said the firm has wider plans in the unsecured loan and unregulated specialist lending markets and is in preliminary talks with a range of capital investors to secure substantial capital funding.
“This funding should allow some deals to get done under the Largemortgageloans.com banner, which wouldn’t otherwise happen,” he added.
