Legal & General Mortgage Club achieved 15% sales growth in 2015 – with £46bn going through the club.
Legal & General Mortgage Club achieved 15% sales growth in 2015 – with £46bn going through the club.
The club, which has partnerships with over 6,000 mortgage brokers, is now involved in one in five UK mortgage transactions.
Nigel Wilson, chief executive of Legal & General Group, called the result “outstanding”.
He said: “Mortgages are one of the many ways we are helping to house our customers. At Legal & General we are investing to create new assets in many areas including housing and urban regeneration.
“Unless we invest in the new, we risk moving into a world of zero’s, including zero wage growth, productivity and inflation. This is not the outcome we want for the UK.”
Last month L&G pledged to build 3,000 homes to rent in Bristol, Salford and Walthamstow at the cost of £600m by partnering with Dutch pension fund PGGM.
L&G has also signed a £400m deal to redevelop Cardiff city centre and has invested £1.5bn in over 17,000 student flats across the UK.
Stephen Smith, L&G director of housing partnerships, added: “2015 was another record year for the club.
"This shows our commitment to grow and extend our reach in all parts of the UK housing market. The intermediary mortgage lending market delivered exceptional growth.”
