Legal & General Mortgage Club achieves record results in 2011.
20 February 2012
Legal & General Mortgage Club is delighted to report a substantial increase in mortgage business in 2011, with completed business up 35% on 2010.
Mortgage applications through the club were over £22bn and completed business was £15.8bn up from £11.6bn in 2010.
Legal & General Mortgage Club is one of the fastest growing mortgage clubs in the UK and as part of the Legal & General Network, is committed to helping mortgage club members deliver a more complete proposition to their customers by offering a broad range of innovative products and services. Through the strength and depth of the
Legal & General relationships with a wide range of financial institutions, the Mortgage Club has been been able to support intermediaries with access to new lenders and new lending, that in many instances have not been available through other Networks and Mortgage Clubs.
Ben Thompson, Managing Director Legal & General Mortgage Club said:
"We received terrific support from our members and our lender partners throughout 2011. It was another tough year for the sector as a whole, but the support we received has meant that these results are truly excellent in a mortgage market which grew only slightly overall. We will continue to provide new lending and the market leading programme of exclusive products as well as developing and building for the future. I would like to thank our members for these remarkable results."
Duncan Crocker, Managing Director, Legal & General Network said:
"We have run the Mortgage Club for seventeen years now and it remains central to our business, powering our Network forward. We will continue to invest in its future and have exciting plans for the next two years as we face the challenges of the Mortgage Market Review. The Mortgage Club is a core strategic asset for Legal & General, and helps to build the strong relationships that we have right across the financial services market."
Notes to editors
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
The Legal & General Group, established in 1836, is one of the UK's leading financial services companies. As at 30 June 2011, we were responsible for investing £370 billion worldwide on behalf of investors, policyholders and shareholders. We also had over seven million customers in the UK for our life assurance, pensions, investments and general insurance plans.
For more information visit.www.legalandgeneral.com/mortgageclub/
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PR Manager, Legal & General Group
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