The partnership will give advisers access to a wider range of specialist mortgage products, including residential and buy-to-let options.
23 Jun 2023
Directly Authorised advisers looking to place business with Loughborough Building Society via Legal & General Mortgage Club will now benefit from access to its specialist residential and buy-to-let products.
The addition will give the Club’s Directly Authorised firms’ advisers access to a wider range of specialist mortgage products suitable for consumers with more complex financial circumstances who may be in need of more tailored solutions.
Loughborough Building Society offers buy-to-let products up to a maximum loan size of £500,000 and residential products up to a maximum of £750,000.
Clare Beardmore, Director, Legal & General Mortgage Club: “Giving advisers access to more product choice and more specialised solutions is absolutely essential to ensure borrowers get an outcome that is right for them. It’s also a vital component of the new Consumer Duty’s fair value requirements, which we know are an important priority for advisers.
“Offering Loughborough Building Society’s specialist residential and buy-to-let products to the broker network at Legal & General Mortgage Club will support more borrowers, and also the advisers who serve them.”
Ashley Pearson, National Business Development Manager, Loughborough Building Society: “Working with Legal & General’s team and joining the Mortgage Club panel is a welcome opportunity for us to address specialist requirements in the residential and buy-to-let sectors. This collaboration will allow us to help more borrowers who otherwise might have been overlooked.”
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
Legal & General Retail helps create brighter financial futures for all our customers. The division covers the savings, protection and retirement needs of our c.13 million retail policyholders and workplace members.
In 2022, we had total individual annuity sales of £954 million, and issued £632 million of Lifetime Mortgages and Retirement Interest Only Mortgages. Our Workplace pension platform served 4.9 million members, while our Protection businesses gave peace of mind to more than 6.3 million UK life insurance, 1.8 million group and 1.5 million US customers, taking in £3.1 billion of gross written premiums.
*at 31 Dec 2022