Legal & General Mortgage Club announces distribution partnership with Tesco Bank
Legal & General Mortgage Club today announces a distribution partnership with Tesco Bank. Tesco Mortgage Intermediaries, a new service from Tesco Bank, will now be available through the Legal & General Mortgage Club.
The mainstream mortgage product is available to both home movers and those looking to remortgage. It will initially be distributed through London and Country following which its availability will be phased through Legal & General’s Key Account firms, including Nouveau Group, Mortgage Advice Bureau (MAB) John Charcol and Stonebridge.
Tesco provides a number of innovative services to help advisers, including searchable lending. The intermediary service also gives advisers the ability to scan and upload documents and track application statuses.
Jeremy Duncombe, Director, Legal & General Mortgage Club (photo) said: “We’re pleased to become the first distributor of Tesco Mortgage Intermediaries in an exciting move for the bank. Our intermediaries can benefit from its modernised services, which aim to simplify mortgage application processes with the adviser in mind. The well-known Tesco brand is likely to attract a wide range of clients and therefore be a valuable addition to any portfolio.
“It is encouraging to see an increasing number of mainstream lenders begin to recognise the value of intermediary markets. As a versatile distributor, we are proud to assist new lenders entering the intermediary market and broaden the choices available to clients.”
For further information please contact:
PR Manager, Legal & General Group
t: +44 (0) 20 3124 2092
m: +44 (0) 7764 582574
Head of Group Corporate Communications
Notes to editors:
LEGAL & GENERAL GROUP PLC:
Established in 1836, Legal & General is a leading provider of insurance, savings and investment management products in the UK. The Group has a market capitalisation of £14.9bn (as at 31 December 2015) and is responsible for investing £746bn worldwide (as at 31 December 2015) on behalf of investors, policyholders and shareholders. Legal & General has over seven million customers in the UK for life assurance, pensions, investments and general insurance plans and over one million customers in the US who rely on us for life assurance. In 2015, Legal & General's operating profit (on the IFRS basis) was £1,455m and adjusted earnings per share were 18.58p for the period, an increase of 14% and 11% respectively.
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