Press releases

Legal & General Mortgage Club announces distribution partnership with Tesco Bank

Jeremy DuncombeLegal & 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.”

ENDS.

 


For further information please contact:

Alyson Bowcott

Alyson Bowcott
PR Manager, Legal & General Group

t: +44 (0) 20 3124 2092
m: +44 (0) 7764 582574
e: alyson.bowcott@landg.com
 

Richard King

Richard King
Head of Group Corporate Communications

t: +44 (0) 2031 242095
m: +44 (0) 7515 324001
e: richard.king@group.landg.com

 

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.

For more information on Legal & General, please see http://www.legalandgeneralgroup.com/

FORWARD-LOOKING STATEMENTS:

This announcement may contain certain forward-looking statements relating to Legal & General, its plans and its current goals and expectations relating to future financial condition, performance and results. By their nature, forward-looking statements involve uncertainty because they relate to future events and circumstances which are beyond Legal & General’s control, including, among others, UK domestic and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory and Governmental authorities, the impact of competition, the timing impact of these events and other uncertainties of future acquisition or combinations within relevant industries. As a result, Legal & General’s actual future condition, performance and results may differ materially from the plans, goals and expectations set out in these forward-looking statements and persons reading this announcement should not place reliance on forward-looking statements. These forward-looking statements are made only as at the date on which such statements are made and Legal & General Group Plc does not undertake to update forward-looking statements contained in this announcement or any other forward-looking statement it may make.

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