MLG is a finance company specialising in mortgages and other consumer finance products, distributing through offline and online business-to-business and business-to-consumer channels. The agreement with Letsure operates initially through MLG’s business-to-consumer arm and will see MLG advisers offering Letsure products to customers enquiring about buy-to-let mortgages.
John Hook of MLG says: “The ability to advise on the insurance aspect of buy-to-let will add value to the mortgage guidance we offer to investors. Prospective landlords, particularly those new to buy-to-let, can often look at the viability of their investment solely in terms of the rental income they expect to achieve. They may not factor in such aspects as failure of tenants to pay rent or the possibility of having to evict a problem tenant, which will impact on their lettings income. By introducing the question of insurance at the time of the initial mortgage enquiries, we will be able to help our customers achieve a clearer understanding of the ways in which they need to protect their investment.”
Letsure, part of the Lumley Group, is a recognised market leader in the residential lettings insurance industry. Lumley has been established for over 100 years, and through Letsure currently places in the region of £2 billion of let property insurance. The Letsure product portfolio includes landlords’ household policies, income protection in the form of rent and legal protection, tenant assessment and landlords’ emergency assistance.
Shaune Worrall, Head of Development Financial Intermediaries for Letsure says: “Letsure is fast securing its position as a first choice provider of dedicated insurance solutions for financial intermediaries. We share a common interest with MLG to ensure that borrowers have access to market leading financial protection for their residential property investments so this partnership is an excellent match for both parties.”
