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L&G Mortgage Club maintains early proc fee pledge to support brokers

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  • 18/03/2020
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L&G Mortgage Club maintains early proc fee pledge to support brokers
Legal & General Mortgage Club has reassured brokers it will continue to pay procuration fees at the exchange stage of a mortgage application to support members during the coronavirus pandemic.

 

It said this wato ease financial pressures and remove exposure to vulnerability around completion dates. Additionally, brokers will still be able to claim procuration fees online through the club’s ClubHub system. 

The feature, which was introduced in July, allows members to track the progress of their fees to see if they are pending or have been paid. 

This measure is part of L&G’s initiative to ensure advisers can keep businesses “running as smoothly as possible” during the outbreak, it added.

Its Mortgage Support Services (MSS) team will be working from home and will be available to deal with queries over the phone or via the live chat tool. 

 

Safety measures 

To keep in line with government advice, spring roadshows which were set to take place in March have been cancelled, however its April and May roadshows are still scheduled to go ahead.

The club said it would monitor the situation closely and any cancelled events would be moved to autumn. 

Its field-based relationship managers will only hold face-to-face meetings where necessary, provided both parties have no symptoms of Covid-19 and neither are self-isolating. 

Otherwise, staff will be contactable by telephone or email during business hours. 

 

Unprecedented times

Kevin Roberts (pictured), director at Legal & General Mortgage Club, said: “These are clearly unprecedented times and I want to take the opportunity to reach out to our members about what Legal & General Mortgage Club is doing to help keep advisers’ businesses running as smoothly as possible. 

“I am confident that the mortgage market will remain resilient and I want to reassure members that we are here to stay and will continue to do what we can to support you in these challenging times.” 

 

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