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L&G Mortgage Club completes £78bn of mortgages

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  • 20/02/2020
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L&G Mortgage Club completes £78bn of mortgages
Legal and General Mortgage Club completed £78bn worth of mortgages in 2019, up seven per cent from the £73bn in 2018 – a new high for the business.

 

This figure includes product transfers, and the club was not able to give an exact figure for the value of product transfers completed.

However the club noted that underlying growth excluding product transfers reached four per cent, defying UK Finance’s 1.1 per cent fall for the wider mortgage market.

Kevin Roberts, director of Legal & General Mortgage Club, (pictured), said: “This has clearly been a positive year for advisers who have supported growth in the mortgage market throughout 2019.

“The intermediary mortgage market has continued to grow over the past twelve months and, amid all the uncertainty of last year, advisers have continued to help thousands of borrowers whether they are buying or remortgaging.

“Adding value to our members as well as raising awareness about the importance of advice is central to our objectives as a mortgage club and over the next year, we’ll be launching further initiatives, continually improving and evolving our proposition to help our adviser members deliver a truly holistic offering.”

The club also noted that 6,482 members had registered to use its SmartrCriteria tool.

Roberts added: “It’s great to see that our members are making the most of these services to evolve and grow their businesses, which has clearly been reflected in fact that advisers using the club have supported growth far beyond the wider mortgage market.”

 

 

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