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L&G opens Post Office range to Nouveau firms

by: Samantha Partington
  • 13/06/2014
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L&G opens Post Office range to Nouveau firms
Legal & General, the sole distributor of Post Office mortgages to the intermediary market, has opened up the range to its Nouveau firms.

The broker range was launched at the beginning of June and includes products starting from 1.98% for a two-year fixed deal and from 3.15% for a five-year fixed rate up to 75% loan-to value.

In January the Post Office, funded by the Bank of Ireland, announced ambitious plans to become a top ten mortgage lender in the UK by the end of 2014.

Post Office mortgages are now available in England, Wales and Scotland while Bank of Ireland is set to launch back into the Northern Irish intermediary market through L&G Mortgage Club and First Complete on Monday.

Jeremy Duncombe, director of Legal & General Mortgage Club, said: “Following the successful launch of this range with our ARs I am very pleased we can extend the availability of the range to our Nouveau firms as well.

“We believe that intermediaries will be crucial to future growth in the mortgage market so it is encouraging to see the Post Office recognise this in its plans.”

Alison Pallett, mortgage product director at Bank of Ireland UK, said the range demonstrated Post Office’s plans to become a ‘serious contender in the mortgage market’.

Nouveau Firms are Alexander Hall, First Mortgage Direct, London & Country, Savills, Springtide Capital and Stonebridge.

 

 

 

 

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