The new arrangement means Lambeth Building Society customers will be able to buy a complete range of low cost savings and investment products from fixed-interest deposits to actively managed ISAs, unit trusts and pensions out of the combined range of products of both organisations.
Customers who apply for a mortgage from the Society will also be offered Legal and General’s complete range of mortgage protection and repayment plans.
Commenting on the new arrangement, Robin Phipps, group director UK Operations at Legal & General, said: "This new arrangement is an endorsement by Lambeth Building Society of Legal & General’s highly competitive position in today’s financial services market. I am confident that Legal & General’s range of values for money protection and investment products perfectly complements Lambeth’s own deposit savings products. Whatever their financial needs, customers will be well served by the new arrangement."
Chris Radford, chief executive of Lambeth Building Society, said: "Since joining the Society earlier this year we have looked at every opportunity to improve the products and services we offer our members. This partnership with Legal & General will enable the Society to offer our members a range of highly competitive investment and protection products through one of the UK’s leading companies."
