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Legal and General Mortgage Club adds nine lenders to panel in first half of 2018

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  • 19/07/2018
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Legal and General Mortgage Club adds nine lenders to panel in first half of 2018
Legal and General Mortgage Club has added nine major lenders to its panel in the first half of the year.

 

The lenders include: Chorley Building Society, Newbury Building Society, Together Money, Earl Shilton Building Society, Landbay, Marsden Building Society, The Mortgage Lender, Interbay and Swansea Building Society.

The new partnerships aim to extend the range of criteria offered to brokers, L&G said.

This is part of plans to offer more choice and support to customers through intermediary partners and to help grow the intermediary mortgage market, which is currently responsible for 70% of applications submitted to lenders.

Recent research by Legal and General Mortgage Club showed the role brokers play in helping borrowers to secure a mortgage.

More than four-fifths of homeowners who have bought a property in the last 12 months would use a broker if they were securing their first mortgage again.

Legal and General Mortgage Club has also made a number of recent additions to its services, including a chat facility for its Mortgage Support Services.

Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “It’s been a fantastic six months for Legal and General Mortgage Club.

“The intermediary mortgage market continues to go from strength to strength, both in terms of acquisition business and product transfers, and it’s great to see more customers are receiving professional advice.

“The new partnerships we’ve secured have supported that goal, bringing more choice to our intermediary partners and their customers, but we continue to look for ways to improve our offering and ultimately help more of Britain’s borrowers find the mortgage solutions they need.”

 

Marden Building launches Family Step to support first-time buyers

Marsden Building Society have partnered exclusively with Legal and General to offer its Family Step range to intermediaries.

Family Step offers a mortgage solution up to 100% loan to value (LTV) with no need for borrowers to have a deposit, as well as access to rates lower than the usual level seen at 90-95% LTV.

Heather Crinion, general manager operations, said: “There’s a growing appetite for customers wanting to get onto the property ladder, with a reduction in rental properties available in the buy to let market and increasing house prices the market demand is there. However, with the increasing property and rental prices the challenge for first-time buyers to raise a deposit grows alongside it.

“We’ve developed our Family Step range to offer support for customers going through this process where the Bank of Mum and Dad or other family members can help support them using savings or property. This range builds on our existing lending solutions and strengthens our support for intermediaries and their first-time buyer clients.”

 

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