News
West Brom fans surge in influence over UK mortgage advice channel
More than one in four advised mortgage transactions in the UK will shortly be completed through an organisation headed by a West Bromwich Albion fan.
With Kevin Roberts taking control of the Legal & General Mortgage Club next month, the powerbase of the West Midlands football club’s fans has grown noticeably in the UK mortgage market.
Mortgage Solutions understands that Roberts is a vocal fan of the club.
He joins fellow Baggies supporters, LSL group financial services director Jon Round and Simply Biz CEO Martin Reynolds at the top of the industry.
Market share
According to 2016 annual reports, the most recent data available, L&G Mortgage Club facilitated £53bn of mortgages in one year – around 21% of the market.
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Meanwhile LSL Group, which includes networks First Complete and Pink, said it arranged total mortgage lending of £17.4bn in 2016, representing 7.1% of the overall market.
SimplyBiz did not supply figures at the time of publishing, but with only the L&G Mortgage Club and LSL included, this accounts for more than 28% of broker market completions.
This influence is set to grow with LSL announcing earlier this week that it had agreed the purchase of rival network Personal Touch Financial Services.
(Bit of Friday fun never hurt anyone – ed.)