Legal & General Mortgage Club outperforms the market in 2010.
14 February 2011
This growth represents a rise of 17% on its 2009 results and more significantly an outperformace of some 22% versus the overall gross lending market for 2010. The Council of Mortgage Lenders (CML) reported £142 bn in gross lending in 2009 however in 2010 this fell to £136.3 bn.
Legal & General Mortgage Club is committed to helping mortgage club members deliver a more rounded proposition to their customers by offering a broad range of innovative products and services. Through the strength and depth of Legal & General's relationships with a wide range of financial institutions, the Mortgage Club has been able to support intermediaries with access to lenders and products that in some instances have not been available through other Networks and Mortgage Clubs.
Commenting on the results Ben Thompson, Managing Director Legal & General Mortgage Club said,
“ Our objective is to deliver good value, quality and choice for our close business partners and members. We are successful because we have the ability to make the most of our strong corporate relationships with many banks and lenders but also we can continually research, analyse and measure real-time transactional data and trends to ensure we understand the needs of the market and react quickly to seize the right opportunities. Our strong relationships with many partners and lenders, is vital and allows us to develop a broad choice of competitive products services that have wide appeal.
Despite the continued uncertainty in the housing market and with future regulation still a little unclear, I am positive and very optimistic for the year ahead and that we will continue to grow in 2011, offering our loyal and supportive members even more value and choice”.
Notes to editors
The information contained in this press release is intended solely for journalists.
For more information please contact:
PR Manager, Legal & General Group
t: +44 (0) 20 3124 2092
m: +44 (0) 7764 582574
About Legal & General
Legal & General Group Plc.
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Registered in England. Registered Number: 1417162.
Legal & General Group Plc is a holding company, subsidiary undertakings of which are fully authorised as appropriate under the Financial Services and Markets Act in respect of their investment activities in the UK.
© Legal & General Group Plc 2011