L&G completes £102m of lifetime mortgages in Q3

The group acquired equity release provider Newlife in April before launching its own branded product range in June.

L&G saw its cash generation increase by 14% year-on-year to £943m in Q3 2015 despite general insurance premiums shrinking by 11% to £251m and annuity sales plummeting by 48% to £262m.

The Legal & General Network facilitated over £32bn of mortgages in Q3 2015, up from £29bn last year, while its surveying business completed 350,000 surveys, an increase of 93% year-on-year.

Last week Legal & General Mortgage Club lifetime mortgage referral panel made up of Key Partnerships, Age Partnerships, Responsible Life and Bower Retirement.