Legal & General has launched The Legal & General Mortgage Service (LGMS).
LGMS has been launched to increase awareness of intermediary channels and provide consumers with access to independent mortgage advice through Legal & General’s specialist mortgage advice partners.
Research revealed borrowers are settling for the first mortgage they are offered, even though this is often not the best product for their individual needs, said L&G.
LGMS and its’ partners aim to tackle this issue by using Legal & General’s experience in the sector to promote the importance of mortgage advisers and encourage consumers to seek whole-of-market independent advice.
The L&G mortgage advice service offers an adviser postcode search on its site and appointment setting service charging up to £299 for an advice session. The website also offers general insurance, pensions, annuities and investments with remortgage and surveying services.
Jonathan Barrett, head of The Legal & General Mortgage Service, said:
“We want to ensure borrowers are better educated and making informed decisions about their mortgage to secure the best deal possible. Mortgage advice still has a huge part to play in this process and we are hoping that our service will complement the work of advisers in helping people through what can be a daunting but vitally important process.”
In March, Legal & General Network confirmed its position as the leading provider of intermediated mortgages at the start of March, gaining a market share of 25% in 2012 against 20% the previous year.
A staff shake up announced this week also saw the appointment of Jeremy Duncombe as mortgage director at L&G.
